How's that for timing? I was just thinking about the concept of Super Channels last weekend (although I erroneously referred to them as meta-Channels). The market was kind enough to offer examples of Super Channels on two consecutive days. Edit: perhaps not, heh. I don't see one on Spydertrader's chart.
Spyder on my snippet I was wondering why the orange is not a traverse. It is not labeled as a Pt 3 traverse on your chart. I can understand why the Olive green is probably not a traverse due to the fact it never broke the lateral(in my chart and formed a pt 3 to the upside but I cant seem to understand why the orange traverse is incorrect. In my chart, I feel we have a break of the thin orange tape on decreasing black volume followed by a lateral retrace which you also have in your chart followed by a pt 3 confirmation when the lateral gets broken on increasing red volume. By all means correct me where Im wrong. Im hungry for knowledge here.