True, not all tapes. I like to focus on the ones in the dominant direction, but sometimes I trade the non-dominant ones. Context is key. Here are some notes.
I have what you have guava. Looking for freakin' P2 in the down traverse. Still no P2 for the up channel. Let's see if they blow out the bagholders that came in late on the high pace bar yesterday at 16:00. lj
gooch, I had a traverse level sequence 3 carry-over channel from friday that completed yesterday at 11:40 est. We then had a non-dom traverse that ended at 13:25 or so...A new down DOM-non-dom-DOM sequence then starts making the up traverse non-dom or so I think . The down dom traverse ve'd both the red channel and the yellow super channel. This dom down traverse that is forming now is having lower volume peaks(so far) then the non dom up traverse telling me that this traverse may be trend overlap which should then make the next up traverse dominant.Time will tell... hth
My chart for this morning. PFC indicated possible pt2 formed at EOD with retrace movement from pt2 to pt3 of an upchannel anticipated. Pt3 of channel occured at 10:25, then confimation at 10:35 with IBV. Sequence complete. SOC at IBGS/FTT at 10:40. Go short. R2R follows confirming shift. Now in retrace of accellerated down traverse. Comments appreciated..........