I've just done it. Paired my analysis back to the basic
channel and then take a real far away view, right back out.
I then added the most obvious place for a downward . And kept the
I like the result.
Notes and observations:
The downward Schiff - I like the way the pair made it on crash recovery
from A to B, one 0.75 retracement to its opposite. The imperfect balance & symmetry of nature.
The upward has been steadily 'wafting' the pair back up. One can notice the gaps where the
points of return upward are raised above the line levels.
Excepting the leadership of the long term channel and accompanying , I think of the two others, the downward has more discipline over the pair ultimately than the upward.
Looking back at point B where the pair over a 52 hour period, attempted, hesitated and finally failed. Then look at what happened last night on the downward suction of a minor but sharp drop in the Nikkei. It didn't make it to the outer Schiff line, and so we have a clear gap. I read this as very significant.
I heard yesterday on the wires of a break out. I think the gap quite probably said no.
Looking at what I think may be a substantial dropping of the pair early part of next week, (especially if there are closures of large long positions, maybe even running into close today).