I believe the party line is that point 3's should occur on a bar with increasing volume over the last bar, though I noticed that point 3's can often be drawn if the next bar has increasing volume in the dominant direction. Is my observation correct?
I believe the party line is that point 3's should occur on a bar with increasing volume over the last bar, though I noticed that point 3's can often be drawn if the next bar has increasing volume in the dominant direction. Is my observation correct?
Yes- a PT3 just happens to be the lowest/highest point prior to volume increasing. Often this happens on the same bar, but not always. If not, volume must increase as you move away from the PT3.
Quote from R/R:
ME TOO!!! ... Similarly. I would have seen and labeled the one bar FTT as a PT3 instead of PT1 and then noted the previous PT2 as a simultaneous PT1 of the new channel. snip...
Classic 1:30 BO
