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I think you have forgotten to differentiate between lateral movements and lateral formations (nothing to do with your answer, just an observation from you chart). Just nitpicking, sorry :) .

Thank you, Spydertrader. Makes perfect sense. :)

I returned to working on 'M' (my annotation skills) yesterday. I was somewhat relieved that the little skill I thought I had aquired seemed to still be there. After market close I posted my chart ... and then Spydertrader posts in response to PointOne and says there was only one FTT for the...

Todays chart. Nice fireworks at the cash close. Catching up with all the posts from the last weeks, it looks like the journal is becoming a showcase of analytical skills :eek: . I really hope there are other ways, more intuitive paths, to understanding this method. Perhaps I'm in for another...

Chart for today. Interesting mix of laterals and sharp moves - not to mention the action by the CO RTL at about 13:10 - 13:20. I find it a privilege to have access to Spydertraders journals, and even more so that he still finds time to post in this one. Thank you, again, Spyder. Something...

Todays chart.

Thanks for todays "walkthrough". :)

Todays chart. Spyder, thanks for posting your charts yesterday. A great reference, as always.

Me, too. I'm at the 'thoroughly annotated chart' part. I removed everything else.

:p

Not only that - it is depends on the quality of your feed as well (more about that here). The INDU is calculated/distributed every 2 seconds (as specified here). If you have a feed that throttles INDU ticks when there's a high load - like esignal - you'll be out of sync for 2-4-more seconds at a...

I finally see what you see. Thanks :) .

No, I'm sorry, the picture does not show that and that is why I posted in the first place. The picture shows a down channel (red) being 'steepened' (orange), then a steep up channel (blue) being fanned (green). So in this case the transition from one trend to the other does not go by means of...

The image from Spydertrader you quoted shows a down channel being 'steepened', not 'fanned'. The 'steep' up channel is then 'fanned'. Or with other words, 'slow-fast' followed by 'fast-slow'. Not an uncommon sequence, but also not really what your 'rule' states? Just trying to follow your...

Todays chart. Interesting day. I didn't really expect that last steep up channel (pink on my chart) to last for very long ... and then it kept going for 22 or 23 minutes after the pt3. Well, what do you know :p . Have a nice weekend.

Have a look at this post. Also, I find the charts become too messy with candles.

Todays chart. Nice to see the volume shift from M8 to U8 during the course of the day.

Thanks for trying to explain. I guess it is a too advanced (or too complex) topic for me at my current level of understanding. I'll stick to trying to see them trees for now. :)

Yes, but you actually wrote: Which is why I posted. Maybe you could clarify in what context this holds true. :)

If I understand what you're meaning (not sure I do), you're essentially saying that price/volume action is symmetrical (i.e. if we have a lateral movement going up we need one going down)? That is not my experience, limited as it is, at all.