Question: when would you draw a new line from 2172.50 recent high to 2158.00 high of last night ? Do you need a lower low below 2132.75 ? tia
Great question. Anytime you saw it you can, I have to get out of bed first thats 1am my time zone. No need to wait for lower low cuz we take clues from price of every turn all the time. Good you asked and interested.
When I post a thread and do follow ups, I let it run its course before starting another thread. The course is the theme of the entire structure of the pattern - here in this case the 4-tier BEARish flag. I dont need other shorter term lines to congest my view; but every peak and trough within this structure do form its own local path of sub channel, flag, patterns. So draw any line to reveal 'where' price is heading and 'trade between lines' in them, if one is trading that smaller time frame. Its like we going out of town (the structure) and we moving inside our own house (local path).
Here the thick red line is your line: very good observation on you so that's our next upside BO/BD line!
See also how 'orange box' was BO upward as I said and tested twice of 'your onegoal line' then come down to retest my 'first target line' and proceeding... check screen shot time, my chart always in sync with my posting real time, using my blog as transition depot I can post chart within 3 minutes: