click on documents - Hershey - channels for bw 2.2pdf. http://www.bluehost.com/cgi-bin/uftp/?domain=ftp@traderuniverse.info great info
1. The thick green lines (on my chart) start out as a Traverse. Later in the day, the exact same line represents a channel. When the thick green lines start out, only tapes have created it. Therefore its a Traverse. Later, Traverses sit inside the thick green lines, and tapes sit inside the Traverses. At that point, you have a channel. Since it is the same thick green lines from beginning to end, it only looks like the tapes built a channel. 2. Your annotations with respect to tapes appear far different than my own. 3. TIKITRADER has provided you some excellent advice. - Spydertrader
Two ways exist in which the market builds a channel. One of them is to begin with traverse and then widen it to the size of the channel. Some examples: http://www.elitetrader.com/vb/showthread.php?s=&postid=1922872#post1922872 http://www.elitetrader.com/vb/showthread.php?s=&postid=1944570#post1944570 http://www.elitetrader.com/vb/showthread.php?s=&postid=1945951#post1945951 http://www.elitetrader.com/vb/showthread.php?s=&postid=1995975#post1995975 http://www.elitetrader.com/vb/showthread.php?s=&postid=1996328#post1996328
This one is really, really tough one for me. A 'post P3' lateral. Anything goes inside those. Technically, IMO since there hasn't been a traverse level signal for change on 5 min ES traverse level fractal - I couldn't tell if what we're going to see tomorrow aren't faster fractal traverses. Looks like YM has already started P1->P2. No signal for change on 5 min ES traverse level fractal as the day ended IMO. One tough cookie.