question about yesterday (see attached chart) the red down tape (starting around 14:55) looks to me as the start of a dominant channel, however, it seems that it's a non dominant retrace of the blue channel. So, how, or better when do we know this is the case here? When price breaks the pennant around 15:20? (but on decreasing volume) or when volume turns from decreasing to increasing black? When do we know for sure? (or when does the mode changes) -- thanks, innersky
I'd say it depends on the fractal - but not on the one we're monitoring (see chart) Edit - meant to say non-dom on what we're supposed to be monitoring, dom on the smaller fractal...
So far... And Guavaman, not so sure about my answer to your question regarding dominance at 12:20 - can see it multiple ways (which is a bad sign). Will be interesting to see what Spyder posts... Thanks for making me think so hard about that pivotal area.