Usually, a point one is an FTT, that is correct. However, if price breaches the left side of former channel on a subsequent bar, then point one can be a full traverse of the former channel. I did notice upon review that CL is not connecting the dots. Your first trendline should connect points one and three. Your second trendline should run across point two, parrallel to the first trendline. One more thing to CL...One chart at EOD will do. Best Regards Oddi
I do not understand what you are getting at with your last post, please clarify. With regards to your channels, DO NOT ANTICIPATE point 3. Point three develops when point three develops. Put another way, these are PIVOT points. If there is no pivot, there is no point. Regards Oddi
To clarify a pivot, look for a low flanked by a higher low on each side, or a high flanked by a lower high on each side. Please label your points 1, 2, and 3 based on these criteria. Your charts will look differently. Regards Oddi
I said two pairs of bars when I should have said a (one) pair of bars. If a channel is upward sloping i.e., as x increases y increases then by definition point 3 must lie greater than both 1x and 1y. So if I am trying to identify point 3 and it "would be" below point 1 it would invalidate itself as point 3 and instead be a continuation of the previous channel, correct ? Does every channel contain 1, 2 and 3 ?
Give back to someone who will give back to others. Chicken is not that type of person. I find it extrememly pathetic that you are helping chicken little in anyway after all the shit he posted challenging Jacks integrity.