. This is it so far. I think my blue channel is a traverse and the green dotted-line is the channel. More to come later. I think the exit rule to use is BO of the forest level channel.
Damn, of course, the previous day ended on a down channel with signal for change. So one knows what must come next. Thanks for catching that. Appreciate it.
I am looking at 13:50 [close of] Bar with increasing black volume and I conclude that no permission to seek change exists on 14:30 or 14:35 [close of] bars (the sequence is not completed). I am referring to the pink traverse here: http://www.elitetrader.com/vb/attachment.php?s=&postid=2104145
The monthly fractal finds itself at an interesting place... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2107226>
How does the increasing black vol at 13:50 help you conclude that the sequence is not complete at 14:35?
The 'crude' logic I am using here is as follows: (1) the market is in non-dom retrace of the down traverse, (2) there are only 3 cases where increasing non-dominant volume found when price is moving from pt2 to pt3, (3) 13:50 [close of] bar is not one of them. 1+2+3= therefore we have not reached pt3 at the end of this retrace. It's not very elegant verbalization, but I notice this type of situation over and over again. The ultimate answer lies, I believe, with how Gaussian lines track dominant vs non-dominant Price Movement. Two posts I think may provide the final piece of the puzzle: http://www.elitetrader.com/vb/showthread.php?s=&postid=2087295#post2087295 http://www.elitetrader.com/vb/showthread.php?s=&postid=2105207#post2105207 I don't have the clear picture of an elegant rule here, but I am working on that.