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Re: Wolfe
Ah ha! you have a pretty good grasp on market geometry! What you have identified is a balance point that those lines are shooting through.
Your point #1 is equally valid, I was being conservative with my point#1. In essence, my point#1 gave the first target, the other 2 you had were the next targets.
Personal preference note:
My 1-3 line was downward sloping for a bullish target. I like these wedge failures.
Do you use Andrew's lines, Blowfish?
Also - there's a great book on channelling by a guy named M. Parsons called Channel-Surfing. A cheesy cover but very good book.
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