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Romanus,

 

when/how did you know to fan the blue up traverse? It looked like a completed sequence to me at 14:05.

 

--

thanks,

 

innersky

Whatever thinking went into drawing the trendlines and gaussians at that time was obviously invalidated by the market. It's quite possible that we both incorrectly identified the Point One.

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I see several visible fractals on the 5M chart today...

 

Hi ehorn,

Does the green trendline represent "Traverse"?

Does the blue trendline represent "Tape"?

Please comment. TIA

5aa70f22f0b82_tapeandtraverse.thumb.gif.92bb594dcc56f9130cce366195413de7.gif

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Hi ehorn,

Does the green trendline represent "Traverse"?

Does the blue trendline represent "Tape"?

Please comment. TIA

 

This is how I have annotated it, yes.

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This is how I have annotated it, yes.

With Spyder's definition of tapes on page 1, post #5, could someone PLEASE explain how on earth the blue trendline could be considered a "tape" and the green trendline a "traverse"?? :confused:

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With Spyder's definition of tapes on page 1, post #5, could someone PLEASE explain how on earth the blue trendline could be considered a "tape" and the green trendline a "traverse"?? :confused:

 

Hi dkm,

 

IMHO, Post #5 gives us a primer for the building blocks (i.e. BBT's).

 

As Spydertrader mentioned earlier,

 

"...begin with these smaller pieces and build from there. In such a fashion, you'll soon see how letters form words, and words become sentences. It is within these sentences that the market tells its story..."

 

With that, I have annotated the story I read for Friday...

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Wednesday, September 9, 2009

Thursday, September 10, 2009

Friday, September 11, 2009

 

Imho, your first down traverse is not valid as the RTL gets broken (10:15) on decreasing volume...

innersky

 

Thanks for the feedback and your chart. There are usually a few parts where I can't get the price channels to match volume exactly (I could fix one part then it breaks another). So I try a best fit (or least bad fit). It's good to see everyone else's chart to compare these areas, good food for thought. :)

5aa70f23429b1_Sep92009A.thumb.PNG.973bfe7b144a78b8af5a92386514b15a.PNG

5aa70f23488ed_Sep102009A.thumb.PNG.62a1a4419404bb71eff49eef2740cb03.PNG

5aa70f234eacc_Sep112009A.thumb.PNG.9829eba5036bed5b5a09276770e8c71c.PNG

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With Spyder's definition of tapes on page 1, post #5, could someone PLEASE explain how on earth the blue trendline could be considered a "tape" and the green trendline a "traverse"?? :confused:
From Spydertrader's post #177:

Whatever
something "looks like" in the
Price
Pane falls under the catagory of
unimportant
because a tape does not
ever
look like a traverse (or anything else) when observing the
Volume
Pane.

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From Spydertrader's post #177:

Whatever
something "looks like" in the
Price
Pane falls under the catagory of
unimportant
because a tape does not
ever
look like a traverse (or anything else) when observing the
Volume
Pane.

Also, check #75 and #77.

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Also, check #75 and #77.

 

With the greatest of respect, referring me to previous posts that I have read 100 times does not help. When someone remains unable to understand something it is often beneficial to offer an explanation from a different perspective or even, dare I say it, an annotated illustration. Responses of the nature "it's all been posted here before" serve only to frustrate.

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With the greatest of respect, referring me to previous posts that I have read 100 times does not help. When someone remains unable to understand something it is often beneficial to offer an explanation from a different perspective or even, dare I say it, an annotated illustration. Responses of the nature "it's all been posted here before" serve only to frustrate.
NYCMB's recent inquiry to ehorn attracted my attention because he posted that chart validated by Spydertrader. You expressed your doubt too, so I thought to reset the discussion to a calibration point. I have no intention to increase anybody's frustration.

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With Spyder's definition of tapes on page 1, post #5, could someone PLEASE explain how on earth the blue trendline could be considered a "tape" and the green trendline a "traverse"?? :confused:

 

 

let me be the devil...

 

PLEASE explain how on earth the blue trendline could NOT be considered a "tape" and the green trendline a "traverse"?? :confused:

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With the greatest of respect, referring me to previous posts that I have read 100 times does not help. When someone remains unable to understand something it is often beneficial to offer an explanation from a different perspective or even, dare I say it, an annotated illustration. Responses of the nature "it's all been posted here before" serve only to frustrate.

 

I can appreciate your question and enjoy it because it makes me think. So keeping it simple (and considering that critical component of M is still being refined) then I will humbly submit my analysis (just based on PT2 analysis only):

 

If THIS was a Traverse (which completed Friday morning) then the down traverse which is being built requires a PT2 outside of the previous up traverse. We did not get that on Friday. Now If the preceding link is in fact a channel, then it is quite possible that what was constructed on Friday was Pt1, 2 and 3 of a down traverse.

 

Frankly, I may very well be stuck in SLOW MOTION coming off of the summer pace here. But my PFC is established and I will continue on with the MADA asking WMCN as each bar forms.

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Addressing dkm's question, in the chart in question, there are clearly faster fractals than what is being called a tape here, and those faster fractals meet the definition of tape provided earlier by Spydertrader.

 

Thus it appears that "tape" is being used as a label for more than one level, so that "tapes" at the fastest level (on the basis of 2 bars, as in Spydertrader's original example) can construct larger tapes, not only traverses.

 

Perhaps someone could clarify this point?

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A very wise man has said; "To get from square one to operational takes time and patience."

 

tapes? traverses? channels? These are all constructs for use in becoming operational...

 

Increasing, Decreasing, Continuing or Changing... and WMCN...

 

We perform the routine so that we may develop and refine our ability to become operational. Spydertrader has provided us all the tools needed to do this and through effort and experience we become more effective and efficient.

 

When emotions override logic step back and take a break. The market is the same yesterday, today and tomorrow.

 

Developing the routine and learning to learn is what the journey entails.

 

But enjoy the journey. It is meant to be enjoyed.

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let me be the devil...

 

PLEASE explain how on earth the blue trendline could NOT be considered a "tape" and the green trendline a "traverse"?? :confused:

 

Modified chart below....

 

"Accurately drawn trend lines in a chart Price Pane represent ‘containers’ of trend on the three trading fractals. We represent the fastest trading fractal using skinny lines (described as ‘tapes’) which, in turn, build the next slower fractal (represented by ‘medium’ weight lines) – known as a Traverse. These Medium fast trends (Traverses) build the slowest fractal (thick line weight) known as a ‘channel.’"...Spyder

 

It appears now that some are using "skinny tapes" to form "fat tapes" and "fat tapes" to form "even fatter tapes" etc etc. It is no wonder that many here are utterly confused with the terminology.

5aa70f2437c73_tapeandtraverse2.thumb.GIF.b50c31bc43449261923fc6c021be7bdc.GIF

Edited by dkm

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Modified chart below....

 

"Accurately drawn trend lines in a chart Price Pane represent ‘containers’ of trend on the three trading fractals. We represent the fastest trading fractal using skinny lines (described as ‘tapes’) which, in turn, build the next slower fractal (represented by ‘medium’ weight lines) – known as a Traverse. These Medium fast trends (Traverses) build the slowest fractal (thick line weight) known as a ‘channel.’"...Spyder

 

It appears now that some are using "skinny tapes" to form "fat tapes" and "fat tapes" to form "even fatter tapes" etc etc. It is no wonder that many here are utterly confused with the terminology.

 

IMHO Taverses are ALWAYS made from Tapes, but not all tapes make a Traverese. In order for a tape to make a traverse, it must consist of at lease 5 bars and three tapes, one tape of accelleration, one of decelleration, followed by one of accelleration, forming points 1,2 and 3 of the traverse. And from my notes from NYC, one bar of decelleration does not equal decelleration. If anybody has anything to add, please do.

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From Spydertrader's post #233:

While certainly, additional trading fractals (beyond skinny, medium and thick)
do
exist, they reside not 'in between' skinny and medium, but rather, below (or faster than) a skinny line.

 

As a result, we
rarely
see them. However, when we
do
see these faster (than skinny line) fractals, they operate in the
exact same
fashion as all other fractals (skinny, medium and thick) which we see each and every day.

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