Quote from tradingbug:
The past 3 weeks looks like a possible pt3 for an intermediate term uptrend.
Hey Bug, long time no see !
I know what is ahead of me already for overnight into tomorrow.
Sequences from today (intraday) must finish and I will give up some ground.
I had moved the stop to 1289.50 yesterday, that is just outside the lavender traverse.
I am watching the lavender steeper traverse now.
For now will continue to hold short and see what tomorrow brings.
Can't rule out for the possibility that the monthly 1345 right trendline might come into play here for a fan out of current channel but . . .
The sequences for the down channel itself must complete and form an FTT.
I have yet to identify an FTT for the long term down channel.
The time in April you mention looks as if had yet to complete its second sequence of the complete retrace, when it had done so it became the fan out you mentioned.
I have 14 points locked now. If tomorrow is strong toward the stop, I can wait for a pullback if that is what the sequences set up for and close position.
Good to see you post bug.
PTV hope this feedback helps.