[wind_]

Thursday 23 Sept 2010

[patrader]

Hmmm,another friday ends with a sym lateral.Gotta luv it.

[ehorn]

My view of the day...

Have a nice weekend.

[wind_]

Friday 24 Sept 2010

Had an error in annotating thursday's sequence. Turned out that the down channel had completed on Thursday, and a new up channel started on Friday.

Have a good weekend everyone.

[saturo]

Originally Posted by ehorn »

My view of the day...

Have a nice weekend.

ehorn - really appreciate you putting your charts up.

Question - you have a tape level (finest level) B2B opening the day.. ending around 10:45. From the open to 10:45 there are 4 black peaks. Could you detail out the analysis you did as each black peak appeared in real time?

e.g.

peak 1 - not an FTT ... nested volume sequence not complete.

TIA

[ehorn]

Originally Posted by saturo »

ehorn - really appreciate you putting your charts up.

Question - you have a tape level (finest level) B2B opening the day.. ending around 10:45. From the open to 10:45 there are 4 black peaks. Could you detail out the analysis you did as each black peak appeared in real time?

e.g.

peak 1 - not an FTT ... nested volume sequence not complete.

TIA

YVW, I am happy to share my thoughts.

Nice observation and it is true... All peaks are not created equal...

Peaks and troughs are always informing the trader... But some peaks cause one to take notice more carefully than others. In particular, where those peaks occur (both throughout the day and with regards to where one finds themselves within the sequences). These particular peaks are showing us a gradual pace slowing as lunchtime approaches (typical of the standard catenary distribution).

So say a 5 minute fractal trader is examining peaks, and lets say a 5M traverse level trader is performing the routine - He/she knows what is needed first before sequences can possibly complete. We need a PT2 and a PT3 and then a return to dominance before one should look for change? yes?

What do we know about PT2's...? Where do they need to form?

Some days we have nice pace and/or we find the market poised in a location (with regards to TL's) where we can zip right through the nest to get where we are going Pt1, Pt2, PT3 and FTT in little time.

Other days we see how the nest elongates (like an accordian being stretched) as we make our way from PT1 across to the previous TL's seeking our new traverse level PT2.

IMHO, Friday is a nice example of how sub-fractals nest themselves on the way to a PT2 (on 5M traverse level).

IOW, While I have shown multiple fractals annotated for Friday, I think of them as sub's as we make our way to a PT2 of the traverse. So from a 5M perspective, it was one long tape moving towards 5M fractal level traverse Pt2.

HTH,

[saturo]

Originally Posted by ehorn »

So say a 5 minute fractal trader is examining peaks, and lets say a 5M traverse level trader is performing the routine - He/she knows what is needed first before sequences can possibly complete. We need a PT2 and a PT3 and then a return to dominance before one should look for change? yes?

Absolutely yes.

OK so around 10 AM we *begin* looking for PT3 on our traverse. We immediately have a pullback around 10:15 - why not label this PT3? We also have a red inside bar around 10:30 - why isn't this PT3?

In real time I thought the 10:15 pullback was PT3 so I ended up reversing early - I'd really like to understand why I should have avoided "taking that exit" on the road to sequences completed

[ehorn]

I can only share my views for your consideration.

Consider the attached picture. It contains 3 levels:

Tapes (Black/Red)
Traverses (Medium Green/Orange)
Channel (Thick Green)

If you wish, label the PT1,2,3 and FTT and consider how this applies to last weeks market formations.

Then ask yourself, do we have a PT2 of the latest up traverse yet... Did Friday give us a PT2 on a 5M fractal?

HTH