In order for the above statement to have complete accuracy, all increasing black Volume bars need to result from a Lateral (either Movement or Formation) BO / FBO or from a Pennant / Adjacent bar Even Harmonic BO / FBO. Do your charts show this to be the case? Mine do not. - Spydertrader
I count three bars with increasing black volume. My previous comment was not correct. It should have said: All increasing black volume results from lateral movement FBO. It is obviously different from pennant BO/FBO. Thank you for pointing that out.
Took this SIM Trade on Daily today. Daily chart showed signs of change, so I am taking on a SIM and see how it plays out. Stop at break even. If anyone would like to discuss over the next few days on how to progress with the trade feel free to. Can make it a group discussion and look to exit on signals of change.
Except that they didn't. One increasing black volume bar actually resulted from a formation of a Pennant. - Spydertrader
Blue arrows are traverses long diagonals...note decreasing red volume now if 1,2,3 up traverse follows will be nice long
Strangely enough it did, and was the reason for the first dom traverse fan out. Those little buggers hide themselves well.
90 min hold on a live trade. Tough hold during the first 30 minutes waiting for sequence to play out as price was always within a few ticks of my entry.