It's my pleasure! You know, you have those days where the market literally shows the perfect "tape-traverse-channel". Today, obviously was not like this. That's why it's so important to not get stuck on that perfect paradigm. Do you know that trivial game "cross word riddles", where you need to find a particular word in a pool of letters. Today was exactly that. Don't get stuck on: "oh NO, where am I in the sequence!" You need to know what you're looking after, what letters must follow. It's literally that simple, because when you know what letter needs to follow, you will also know the next word! The market is also a matrix, it's all interconnected. The biggest light bulbs should come by combining -linear regression(5min bars only capture the noiseless path of price); -"x-amount of bars from point 1-2 and point 3-end": -Channel line(both) crossover by 1-2bars. Don't interpret, just acknowledge what you see. There is an extraordinary significance in these things. There are those who say: Trendlines work extremely well until they don't anymore." HAHA! Do you get it? ..how absurd! Anyway..
Here's how I annotate annoying traverses. It makes me see what's what! First I see some pseudo pennant in the form of a maxi-tape, followed by 1bar breakout.(I don't add the parallel channel line because it doesn't help me. Next I see a tape- which steepens like usual: point 2-3 of the tape "spirals" around the lower line. Followed by, again, 1 bar breakout, followed by, again, tape which steepens. The max amount of trades would be 9-10 in here, Just to prove there's some significance going on. However, there's no point in trading these, only a reason to hold. Which is key! horizontal lines are a visual to see the mid-section(point 2) of a fractal. As the letters(odd pennant, 4 tapes(2which steepens)) are there, we assemble those symbols into a word (the traverse.) That is my way of doing it at this moment. I refine my thoughts daily, though. This is a non-stop process of refinement, obviously! Does that make any sense to you?
Thanks for taking the time to describe that so explicity, Astral! Jack's also described the market as an 'interconnected matrix', and analogized that with tic-tac-toe. I understand what you're saying on a superficial basis, but I suspect it's going to take a lot of thought to appreciate it on a deeper, and more practically useful level. Using my brain is a feeling I've grown unaccustomed to. Still oiling those cogs! I'll get back to you once I've mulled it over some more. Thanks again!!
It's getting late, and I've got an early start tomorrow. I'll post the slices, then compare them after/during work tomorrow. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2163228>
Long traverse, so posting this one individually. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2163239>
Thanks for clarifying that, Jack. Yet another example of a 'translation'. I'll try my best to go cold turkey! Working 20-hrs tomorrow, but I get four hours off from around 1pm EST - will try and annotate/log the pm session.
Looking at Spyder's charts is like taking a sunset stroll on the beach. Mine, on the other hand, are like the night before a coup de etat, lines zigzagging chaotically and frenetically. I'm trying to catch a 12-foot alligator in a flimsy cardboard box, by trying to constrain the market to my point of view. I'm trying to subjugate her, almost by sheer force of will. As Jack says, the sooner I sit up and take note of who is in charge, the better; the market doesn't take orders. Sequences. Many, many people have advised me to be mindful of sequences. The latest on the roll call are Astral, Romanus and Ehorn. While accepting sequences on an intellectual level, I'm clearly neglecting them on an operational one, notably on the fastest fractal, which defines and constructs all others. Annotation. The parallel slicing is surprisingly powerful. There's a certain synergy and almost amorphous fluidity to Spyder's taping, which seems to apply the seven cases more as flexible guidance than rules. I'll need to analyse this further.