[Spydertrader]

Originally Posted by double eagle »

Here's my chart for 02/24/2010.

[ptunic]

Originally Posted by romanus »

Thank you for sharing this. In the attached, bar 1 on increasing volume fails to reach the LTL and signals peak volume, bar 2 is IBGS on increasing volume and it's close breaks the previous up tape drawn from the final bar on the previous day (black arrow pointing to it). Why would one hold through it and not go short? Thank you.

Romanus, I had a pretty similar view on that section to become's analysis (made a mistake bar 2 in real-time though) see attached snippet.

Here's my thoughts kind of starting around 15:35 on 02/22/2010:

Pink Down Tape:
I started this (on my snipet labelled 1 in pink) because of an outside bar/ibgs, with decreasing red.

By 15:45 you see the huge red down bar and this is the dominant red part of the pink down tape. Though I didn't label it on this snippet it also breaks a RTL of a Traverse or possible channel as well.

Then we get 2 black bars, I label these as non-dominant (pt 2 to pt 3 movement). The end of day volume distorts their volume but once adjusted for end of day volume (which I don't know the rule but just roughly divide it in half or so) they are decreasing black.

The last bar of the day is really interesting. I see this as an ibgs. The bar starts with dominant red volume, confirming that it has created the pt 3 of the pink down Tape. However, on the very same bar, price moves all the way back and closes on the open, creating a kind of spike (not sure if these are officially spike bars or not). This to me is an SOC/FTT. I would still want see confirmation, in the form of a BO of the RTL in a bar or two, but other than that by end of bar I am annotating this as the pt 1 of a new black Tape.

So let's go to the next bar, which is now beginning of the day, bar 1 of 2/23/2010. I see this as dominant black which confirms that the previous bar was the pt 1 of our new up tape (labeled forest green on my snippet). Actually, this and the next bar I was very much on the fence on, because of the beginning of day volume effects, you could easily make the case the mode was non-dominant (decreasing volume) as well. But for this purpose what I feel makes the most sense is it is dominant black volume.

Bar 2 I labelled as non-dominant red volume, thus confirming the previous bar as the pt 2 of the green Up Tape. The reason I did this even though its volume was increasing over the previous bar, was it is an ibgs. With ibgs, I give special wiggle-room if that is the right word, and I assumed that most of the volume was when the bar was making a higher high, as opposed to the downward retrace. I guess if you have YM, you have an advantage since you can look in more granularity, but I only use 5 min ES (and wasn't looking at PRV in real-time either so had no way of knowing).

Bar 3, I labelled as dominant black volume, even though volume was slightly decreasing. Again, this gets to mentally splitting up Bar 2 into 2 parts: a high volume increasing black bar and a decreasing red bar. So this confirmed the previous bar (bar 2) was the pt 3 of the black up tape.

Bar 4: at this point we are passed the pt 3 so we are looking for a SOC. I'm not sure if the SOC is this bar, or Bar 5, or Bar 6 when you see the lateral formation, but one of the three bars ends the green Up Tape. In realtime, I labelled it differently (incorrectly), thinking the VE was sufficient enough to lead to the NSW moving on this fractal (Up Tape). So I was expecting a decreasing red BBT and than an increasing black BBT and then would look for the possibly final FTT. Of course that didn't happen, so I need to spend more debrief on when VE's are FTTs versus move the NSW.

It is very possible the Green Tape is a BBT or sub-fractal, instead of a Tape, but I labelled it as a Tape.

[innersky]

Originally Posted by Spydertrader »

Why doesn't the Blue Thing belong to this chart?

--
innersky

[rs5]

Originally Posted by Spydertrader »

According to your chart annotations.............

Thank you so much for your feedback! Actually I have the present up container from 13:05CST yesterday (14:05EST). And yes that mystery first bar - I have been starting the first bar at 8:25 so I could be "warned" regarding the position where the actual first bar of the day starts (before gap removal tool) - Thank you for noticing And thank you for the reminder that it needs to be taken into consideration now with the remove gap tool. Here is a view without that warning bar. I have shown vertical blue line at today's first bar.

Edit: Also with revised Sym Lateral annotation.

[Spydertrader]

Originally Posted by innersky »

Why doesn't the Blue Thing belong to this chart?

Because "The Blue Thing" does not accurately reflect the information provided by the market.

- Spydertrader

[rs5]

My current coding for laterals:

Fushsia = SYM Lateral per Lateral Drill
Cornflower = all other sym laterals
Chartreuse = all ftp laterals
Yellow = all fbp laterals

Focus is on the Sym Laterals per Drill. The others are there for decoration at the moment.

[Spydertrader]

Originally Posted by rs5 »

Actually I have the present up container from 13:05CST yesterday (14:05EST).

Now that you have 'corrected' your 'start of day' annotations, you should have the ability to see where you have failed to include other annotations (some that existed previously and others which did not appear on your charts at all).

- Spydertrader

[Spydertrader]

Originally Posted by rs5 »

The others are there for decoration at the moment.

In order to determine whether (or not) such automated annotations add (or detract) value to your M - A - D - A, ask yourself, "What do I [you] think when those different color laterals appear on my [your] chart in real time?"

Do you think, "Damn! I still need to differentiate these things, but lets check 'inside' to see what is happening."

or, do you think, "O.K.. I'm in a certain type of Lateral (based on a certain color), so let's pay attention and see if I can learn something."

One answer indicates the lack of the need for the annotation itself, the other answer indicates an incorrect focus (on Price, rather than, on Volume).

Differentiation occurs after market hours. Applying the fruits of one's labor occurs during market hours. Make sure you are performing the correct tasks at the correct times. Again, since 'X' amount of time has passed since I first introduced you to, and provided the expected results from, thoroughly differentiating The Lateral Formation Drill (and Follow Up), and since you still appear to struggle with laterals which do not conform to those drills, I'm simply pointing out that looking at a problem from a different point of view, might provide some benefit.

- Spydertrader