After reading this I feel quite lost. When did the idea of a traverse being different from a channel crop up? From everything I have read so far, a traverse is a pt3 channel of yet another larger channel. Is that what you mean? Or did I miss something along the way?
Correct. Just as letters build words, and words build sentences, so too, do tapes build traverses and traverses build channels. - Spydertrader
Just like right now the larger up channel is built from two channels both ending with DT/DB FTT's. So when trend will change after this FTT (IBGS) 1225 {close of}, the down channel will have to be built from two channels as well?
Correct. FYI. bundlemaker described this very thing in his video. None of this stuff is new. - Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1945231> Final Traverse left in place for educational purposes. Edit: Please see the YM 12:32 [close of] bar for why we expected Increasing Volume on the 12:35 [close of] ES bar.
So we just witnessed Point Three down followed by Lateral Movement, followed by another Point Three down. Sound familiar? - Spydertrader