Thank you very much for the post, ehorn. Isn't it amazing, how one can read, seemingly understand but still not comprehend..?
Al Broks trades on 5m + 20EMA + channels and he analyzes bar by bar, here are his presentations http://tinyurl.com/ocpqcy (95MB) http://tinyurl.com/r8pkos (88MB)
5/12/2009 attached. Generally speaking I felt I understood this day better than most though still have difficulty when things get to the goat/FFT level. On the good side I think I identified many of the point 3 traverses by the end of their bars, and saw many heads-up signals about upcoming change (end of sequences), upcoming b2b/r2r 's, etc, a bar or two before they happened which was unusual. Usually it takes me 2-8 bars after these events have already happened to identify them I had a question regarding bar 15 (marked "A" on the attached chart). I believe this bar to be the beginning of an up-traverse; however I didn't see a b2b anywhere in the traverse clearly. My interpretation is that the b2b occurred intra-bar within bar 15.
The 14 and 15 together most likely had the b2b at a faster level. The Blue would be considered a tape or at least a faster fractal, but not a traverse. Lose the Green channel and see if that helps. Also review taping to an OB, Jack's "seven cases".