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A Traverse represents a 'small channel' or as we used to say, Tree level. Just as letters build words, and words build sentences, so too, do tapes build traverses and traverses build channels.

Light blue = aqua (check Spydertrader's chart) is a fanned outward (decellerated) dark blue channel because we had an FBO of the dark blue CHANNEL

Actually my intent was to communicate the sequences. How does one know not to go short 1110 eob? How does one know in advance that 1115 eob - 1150 eob retrace is not going to BO? How does one know that 1245 eob is not the signal to take? How does one know to hold through 20 pts chubby tape with...

To be accurate it should read "... next stop non-dominant traverse taking price back to BLUE CHANNEL RTL then resuming dominant direction and creating either VE or an FTT of the BLUE CHANNEL." We ended up with an FTT. Sometimes my brain thinks one thing but the fingers type another. Sorry...

1010 eob is change in the orange traverse which marks transition from dominant to non-dominant direction. Next stop BO/FBO of the orange RTL 1015 eob tried/failed reaching orange LTL and started moving towards orange RTL on decreasing non-dominant volume. :D Does it ring a bell?

'hoo-ah!' 'Yippee-Ka-Yay!' Definitely saw those two! Enormous thanks for the advice to do reps of 20 charts!

Indeed they are!

But you can't expect that because the orange pt3 formation is a traverse of the pink(fuchsia?) pt3 down channel. So you need another non-dom traverse to take the price back to the RTL of the pink(fuchsia?) pt3 down channel to complete it. Can a lateral retrace do that. It can't. Therefore, we...

Try this.

You are right. But: Laterals can form retraces, traverses and channels. When laterals do not form any of these three things, they have no other meaning.

Sorry, I was looking at the wrong bar. 1:05 [closing time] bar on 7-7-08 ends dominant traverse of the dominant traverse of the down channel. pt1 1215 eob, pt3 1255 eob is a traverse of the channel pt1 1135 eob, pt3 1210 eob. The pt1 1135 eob, pt3 1210 eob channel is a traverse of the pink (or...

If you pull up all lateral movements annotated by Spydertrader you will notice that all bars inside an annotated area have closes inside the boundaries of the previous bar. It is not the case with 1015, 1020 1025, 1035 etc., all eob.

This, by the way is pure gold. A huge thanks for that.

:D I believe that wash trade is defined as a net negative result of recognizing that you are not on the right side of the market and correcting the situation to get on the right side of the market. Therefore, it's only logical to conclude that a wash trade is a direct result of one's ability...

I am in the same boat. I have not found 'it' yet. The only reason I know 'it' is there is because today I can see much more than I was able to see a month ago. And a month ago I was able to see much more than two months ago. So it's a simple deduction really. As an example compare two totally...

No offence and please do not take my comment the wrong way but most of what you described belongs to more advanced learning stage. I base my conclusion on several facts: The point is this: price and volume in their relationship is the beginning of learning to trade. There is no alternative...

IMO washes belong to the group of teaching aids that aim to help the trader learn the methodology and trade at the same time. I believe it is based on a premise that if your entry is correct than the price will cross the entry line one or more times giving an opportunity to exit at the cost of...