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gucci
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Everything posted by gucci
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Quite a lot of indicators you've got there. Do you use them all? Aren't volume and price enough?
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I would like to disagree.
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If you were looking for the point 3 around the times you mentioned, you were jumping the fractals. Prior to reaching its point 2 the market managed to create a traverse. Since this traverse is located inside the last one (which RTL market was trying to break) it is nested i.e. faster fractal. So the market indicated what the traverse on the trading fractal will consist of. HTH.
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Here you go Ezzy. The trading hours are confined within black vertical lines. The times are CET.
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Hi NYCMB, to 1 Please understand, I did not suggest any specific resolution. Furthermore I do not think this example was specific. On the contrary this example was rather elementary. Price moves from point 2 to point 3 in a non dominant fashion that is on decreasing volume. It doesn't matter what resolution you chose to compare the aforementioned areas - the volume at point 3 is decreasing. to 2 I referred to the chart in cnms2 post, so the times in question correspond to his chart. FWIW.
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Dkm, if I may chime in here... Cnms2 highlighted the areas in question. If you think about the assertion, that the method works on all time frames, you could mentally (or actually)go to a higher (slower) resolution level and compare the highlighted areas. You'll find out that the non dom is supported by decreasing vol. Furthermore you can compare the transition of the black volume starting after 11:30 - 11:40 area where the red volume stated its dominance. Even with increasing black volume in 12:30 - 12:40 area the market stays in a down trend. What I mean is, even though the market shows increasing black in 12:30 - 12:40 area in comparison to the 11:50 - 12:00 area, it still doesn't top the pace of increasing red in 11:20 - 11:40 area. Finally the 13:20 - 14:00 confirms that the black volume isn't dominant here. The red volume in 14:10 - 14:40 area since comparable to the 11:30 - 11:40 area finally reveals itself as a final leg of a channel, point 2 of which was established by red volume in 11:30 - 11:40 area. On a side note why should it be important? You spotted your ftt so why not to go from here keeping in mind the possibility of you having jumped the fractals? I would annotate the chart differently (see attachment) and that still would have worked out for me. Take it with a grain of salt as usual, as I'm just suggesting some things I'm working on. So caveat emptor.
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Hi dkm, I'm glad you are still sticking around. To answer your question, you can simply change your way of "seeing" the movement of price from "up" and "down" to "dom" and "nondom" (or to "from right to left" and "from left to right" respectively). Think about it. Do you recall Jack speaking about horizontal orientation? This jem from Spydertrader clarifies the topic. HTH. Forums - Iterative Refinement
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Hi Spyder, you mentioned on at least two occasions the mental filter you let Jack's teachings go through. The YM leading ES comes to mind. Could you remember some more examples? TIA.
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Spyder, sorry for disturbing you with questions pertaining the wash trades but they seem to be of utmost importance. So bear with me. Do you consider a reversal trade on FBO after a FTT as being a wash tade or do you deem such trades as something each trader does numerous times during RTH just as a part of a routine? Sorry for the poor formulation, but I somehow couldn't come up with a better one.
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The fact, that price tried to move higher on encreasing volume but failed to break out of the lateral suggested that change is in the cards. Just my 0,2.
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For me the signal of change in such a context would reside on the 5th bar.FWIW
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Got it now. I just unwittingly added one more dimension to the definition of a fractal. Thank you guys for the explanations.
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Let me clarify my confusion (or ignorance) by comparing the fractal nature of the market to a fractal nature of a snowflake. Snowflake has a certain pattern whether you look at it or not. If you take just a part of a snowflake and enlarge it, this enlarged part will exhibit the same pattern which the whole snowflake showed. You take just a tiny spot on a snowflake and use a microscope to discern the pattern, the result will be the same - you'll see the same pattern. Now the snowflake has a static nature,whereas the market has a dynamic one. So instead of a microscope you'll need different (faster) timeframes to behold the cycles of the price movement.
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I still can not see the difference. I think this is very important to understand, so bear with me. The fractal nature of the market should suggest that every Price Bar on every timeframe represent a fractal. I mean 15min Bar, 5min Bar, 1hour Bar and so on. When our channel contains six 5min Bars for an example, it represents simply one 30min Bar. How else can you "magnify" or "reduce" the market? Could you elaborate? TIA. We've learnt a number of various SOC. So I just thought, that points 2 and 3 may represent important contexts for different SOC on a faster timeframe to materialize,hence the question. But it isn't important now anyway.
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Sorry for my sloppiness. You are right, my question in the posted form suggests my ignorance with respect to the meaning of the word fractal. I hope this doesn't represent the state of affairs in reality. (actually I'm quite sure this is not the case ). I hope my inquiring can somehow be made more comprehensible by the following. When price has finished its movement from pont 1 to point 2 (provided those points were correctly identified by a trader) and starts heading towards point 3, one can easily pinpoint a Price Bar and a corresponding Volume Bar which signify the completion of the formation of point 2. (One of the extremes of this Price Bar sets the volatility of the channel and touches the LTL.) One can then zoom in into this Price Bar (5 min Bar represented by five 1 min Bars for example) in order to understand how exactly it was forming. While I do not suggest to dig deeper down the rabbit hole and split each Price Bar at points 2 and 3, I was wondering whether the differences you were talking about have anything to do with the Price and Volume actions at those points (aka Bars,aka fractals) and not only with the behavior of the market between them? Sorry for the lengthy post and thank you for your support.
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Thanks. Actually I was rather thinking along the lines of smaller fractals or intrabar Price and Volume actions at those points. Is it unnecessary ? Does encreasing and decreasing Volume, Pace etc. suffice?
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Spyder, you mentioned some time ago, that points 2 and 3 form in a very specific way. Would you elaborate on what exactly you had in mind? My best guess is that it wasn't their respective location on the chart (albeit this is important as well) you were insinuating at, but differences in the Gaussian and Price Bar Formations instead. If this is the case what is it that is noteworthy at those points? TIA.
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Spyder, when trading with complete certainty does one still make use of wash trades?
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I think you are spot on with your observations. Here is an example from Dax. It fits (I think) into the group of laterals you found somewhat complicated.("the other two laterals in that drill"). The first rising volume points the way to the dominant direction.
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Spyder, why do think those Laterals are of utmost importance? What is special about them? TIA.
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Spyder, are you suggesting that there are only two piles for all laterals or two piles for laterals under discussion? TIA.
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Not much of a choice,don't you think? Either follow the advice of those, who don't understand what they are talking about (or couldn't use their understanding profitably) or shut up. This is really priceless. I hope you enjoy the show,because somebody has to get something from it.
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Spyder, you thanked ljyoung. I guess this is really helpful for somebody. What about the question? The lateral movement from point 2 to point 3 can it be a non-dom one? PS: ljyoung, I was not playing with definitions. I hope you know what I'm talking about. Are you a scientist?
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I do not understand why you are talking about fractals here (you used the word traverse), I was talking about the movement of price from point 2 to point 3. We could nail it down and move on. Another (not so appealing to me at all) alternative would be to play with definitions and their meanings and get stuck.
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ljyoung, are you interested in a scientific discussion of the topic at hand? If you are, then let us cut to the chase and discuss those things. The hole shit we are talking about here is binary (I hope), so the answers to any questions asked schould be unambiguous. I thought you have got a scientific background.