Iterative Refinement

First red bar is earlier ... 1400, RTL BO.

 

First confirmation is one bar earlier, the outside bar ...

 

Also, here's a preliminary draft of a mind-map based on Jack's Channels paper.

If anyone feels this might be useful I'd be happy to post an updated graphical version when it's ready.

 

increasing red comes from SYM BO

closes back inside the lateral established by 1120 eob - no pt3 yet.

 

1. next bar, the red increasing volume
2. it doesn't matter; it matters that's bellow previous bar's low

 

1. the volume on 1405 eob is decreasing on both mine and Spydertrader's charts.
2. there isn't any bar with increasing red volume prior to 1200 eob - therefore no pt3 yet

 

formation BO - one of the three cases

 

it closes back inside the Lateral Retrace beginning 1120 eob bar (not annotated on a snippet) - no pt3 yet