Quote from ljyoung: You are answering the question of why those two constructs on the left are traverses by saying, "... because they have to be....
simply the way a Channel is constructed and it's basic sequence. For there to be a down Channel pt3 as indicated on the referenced chart, there...
The same thing happens this day starting 12:55. Interestingly, the green up move was not annotated originally with Traverse points 1,2&3, yet...
lj: a few basics about the 12/2/08 chart you referenced may clear up the Channel question. The blue up Traverse starting around 10:00 is...
for the orange fractal in my snippet to complete it's sequence, the subfractals must also complete at the same time - in other words "in phase"....
Look at how the faster fractal completes in phase.
You started the RTL of a downtrend at 14:20 at the same point I used. see my snippit. I may be on a lower fractal, but this is where I feel...
lj: my 15:35 was an OB with a higher close - don't think it ever was an IBGS. I taped to it from the previous bar. With a higher high and close,...
nkhoi: I think the Channel pt1 would start from the 3/30 low ~15:00
my view
thanks Mike. You're right - I missed that double bottom and you have some very good points.
lj: I need to set the record straight. As I recall, there was only a little discussion about taping construction guidelines at the meeting....
Example of fan to decreasing volume bars.
Example
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