Out of set of all laterals, some of them can form (a) retrace in a traverse, or (b) traverse in a channel. A lateral is still simply a lateral as dkm said, whether it's (a) or (b). It becomes (a) or (b) by virtue of where in a traverse or channel it appears.
Thank you, romanus. Taken into account the fractal nature of the market I just got confused by the lateral channel?(traverse?) and its implications for the WMCN. We do have three points here. http://www.elitetrader.com/vb/attachment.php?s=&postid=1980041
A post I did this morning was questioning. . . Can the sequences to form a channel- have a Dominant traverse, followed by a lateral retrace to create the second sequence to create a channel, finished by a lateral traverse with a B/O, to complete the final dominant traverse and complete the channel? I should not have used that example this morning. It was out of context from yesterdays' action. Here is the snip with yesterday as a channel, in the correct context which already was discussed .
Avi 8 referred to it as a rare case of annotated lateral channel : http://www.elitetrader.com/vb/showthread.php?s=&postid=1980064#post1980064 Since that was the first time I noticed annotating in such matter, I thought that was an exception where the same vocabulary is used to describe different situation.
Romanus, I don't understand the meaning of the last 8 words of your post. I just miss the context. My english is really lousy...
Sorry. What I meant is: 1. it was referred to as a channel 2. I could not see any annotated traverses which built this lateral channel 3. I decided to leave it alone, because this type of scenario rearely happens