[rs5]

Lateral Drill Study in progress.........

[rs5]

Friday 22 January 2010

[Tams]

Originally Posted by TIKITRADER »

Here is a closer look at the daily chart for ES.
Not a great chart but you get the idea.
It is from October until now. I have also re-attached the Monthy ES that I posted the other day for ease in comparing the charts.

Originally Posted by Ezzy »

Interesting how the volume is dropping on this up leg on the monthly. The daily looks the same way. Hmmm.

you do think loud.... ..... .....


;-)

[nooby]

Originally Posted by atto »

Thanks for sharing this. I know several people wanted a more in-depth description of what you do. Perhaps you might be able to show some real-time analysis of these concepts this coming week? As you know full well, annotating a chart in hindsight is very different from being able to do the same thing real time (which is very different from being able to act on observations).

Agree with you. It is where most beginners make mistakes - i think in knowing the exceptions to the rules.

[Spydertrader]

See attached.

What makes the two highlighted areas different?

The 'SYM Lateral 1 - Dom' conforms to the examples in The Lateral Formation Drill (and follow up). 'SYM lateral 2 - Non-Dom' does not conform to the examples in The Lateral Formation Drill (and follow up).

Note the difference.

- Spydertrader

[Spydertrader]

Originally Posted by rs5 »

Lateral Drill Study in progress.........

Looks to me that you've already found the answer to the question, "What makes the examples all the same?"

- Spydertrader

[ptunic]

I can see how you can group these into those that start with a Sym, and then test the high or low of the 1st bar (without penetrating it), before penetrating the lateral boundary on a later bar.

However, from post #1171, I am confused a bit here. It looks like the bar 55 and bar 79 laterals fit this same pattern, but the 67 lateral does not (it starts with a Sym, but there is no bar that tests the lateral before it is penetrated). Just wanted to confirm that neither of those 3 laterals fit into the same set of laterals from the Lateral Drill.

I've attached the chart under discussion from #1171 for reference.

[romanus]

I realize that my question is somewhat off topic, but I am posting in the hope that somebody could point me in the right direction, either here in the thread or by PM, if they wish to remain anonymous. One of the examples of the problem that I am unable to resolve in the present state of my observational skills and sensory acuity is represented in the attached chart: by 11:30 on 1/22 it appears that the container is formed that moved the price from Point 1 to Point 2 of the Traverse. This hypothesis seems to be confirmed by what was developed by the end of the day. The subsequent short tape ending at 12:15 on 1/22 appears to have moved the Price to Point 3 of the Traverse and 12:15 to 12:40 long tape seem to have finished the construction of the Traverse.

I have been trying to locate the solution that would indicate that annotating in real time as shown in the attached would be a mistake and that the 11:35 to 12:15 tape COULD IN NO WAY represent the r2r (p1 to p2) of the container that moves the price from Point 2 to Point 3 of the Traverse and that the 12:20 to 12:40 long tape COULD IN NO WAY represent the retrace in the short container that moves the price from Point 2 to Point 3 of the Traverse.

In other words, how can one KNOW in real time that 1135-1215 and 1220-1240 tapes represent medium \R and medium /B as opposed to skinny r2r and skinny 2b of the container that one may think is moving the Price from Point 2 to Point 3 of the Traverse.

Thank you to whoever would be kind enough to point me in the right direction.