[Spydertrader]

Originally Posted by NYCMB »

a) Bar 7 is OB on IRV; and, you have Green 2-bar up tape starting on Bar 6. Is is because Bar 7 close back inside Bar 6?

You'll kindly note that none of the ten examples contain an 'open' nor do any of the examples contain a 'close.' The examples show how to anotate an RTL based off an Outside Bar. Note the divergent trend lines. These are LTL's. But they still need an RTL for each. Now note the green RTL.

Originally Posted by NYCMB »

b) Bar 6 is the 2nd bar of FBP; and, you have Brown 2-bar down tape starting on Bar 5. Did you draw the Brown down tape after Bar 6 close? Or, you did not draw the Brown tape till Bar 7 close which offer lower low bar end? TIA

Bar Seven Close..

+++++++++

Remember, the goal of this exercise is to 'get the feel' for drawing tapes - bar by bar - so you can know how to annotate any two or three bar combination. Once you learn this skill, you'll move onto combining 'tapes' in order to see the fast trends as they build the next fractal - the traverse.

For now, simply apply the template (tentapes attachment) onto your charts - anywhere you can draw a tape. In the very near future, you'll apply the fractal nature of the market onto your chart while developing the ability to see all three fractals in an effort to consistantly apply the trend line drawing rules onto every trading fractal in the exact same fashion.

- Spydertrader

P.S. Everyone should read that last sentence again and again to see if it applies.

[Spydertrader]

Originally Posted by rs5 »

7 July 2009 - monitor and notate

Nice Automation, but you might want to review your code for 'Lateral Formations.' See Attached.

- Spydertrader

[Spydertrader]

Originally Posted by FJK »

Notice that a faster up-trend has to complete before the slower down trend can continue. I covered with 2pts. profit.

Nicely done.

- Spydertrader

[trade4living]

Originally Posted by Spydertrader »

.

In your chart with tapes, shouldn't the bar marked with red arrow be part of the down tape since that bar in question and the bar before it forms a down tape.

[Spydertrader]

Originally Posted by trade4living »

In your chart with tapes, shouldn't the bar marked with red arrow be part of the down tape since that bar in question and the bar before it forms a down tape.

The 'red arrow' bar is part of the down tape, but it also creates the first bar in the next UP tape. All trends over lap, and they do so on every fractal. They overlap at Point One.

- Spydertrader

[rs5]

[QUOTE=Spydertrader;70253]Nice Automation, but you might want to review your code for 'Lateral Formations.' See Attached.

- Spydertrader

Thank you so much! This is the feed back I was looking for. Hopefully it will all be "automated" some day. For now it is look, draw, erase, redraw, search, compare.... In this exercise, should all "long" and "short" tapes between 2 bars be shown?

[Spydertrader]

Originally Posted by rs5 »

In this exercise, should all "long" and "short" tapes between 2 bars be shown?

For now, annotate every tape you can on your chart. Then, begin to 'merge' the various tapes together into a trend.

- Spydertrader

[traverse]

Why is the 2nd one not a lateral? Are there paramaters to use as a guide to know what a valid lateral is and if one can end before price exits it. Currently if it's not the first 2-3 move of a traverse clarity of laterals is way slow.

Originally Posted by Spydertrader »

Nice Automation, but you might want to review your code for 'Lateral Formations.' See Attached.

- Spydertrader