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Sorry about delay. Trendlines generally continue until price breaks out and stays out. As such I continued the 'Burgundy' trendline...
I think it would be very beneficial if you could elaborate on the logic behind your assertion (that the trendlines you refer to, are not supported...
It's just an old fashioned hand drawing.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2087759#post2087759...
I believe the issue at hand is that of basic geometry. If the attached doesn't answer your question, let me know.
Aside from my personal observations, Spydertrader made several posts in that regard in the 3rd and 4th quarter of the last year, if my memory...
A traverse level trader is only concerned with when the 5 min ES level traverse sequence has ended. The area you refer to represents a Point 2 to...
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