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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: peter n matzke who wrote (1117)11/4/1999 10:57:00 AM
From: Chip McVickar  Read Replies (1) of 7434
 
The median line is *NOT* crossing market price activity that would invalidate it. It's because the low on 10/18 is a lower low and therefore creates a new fork.

Because the 8/10 action is encompassed, is a part of the spread or within the spread from 7/19H-10/18L....it is valid.

Print it and draw the spread line, bisect it and draw the median line...it works.

>>my understanding that for a valid fork, the handle should not cross through significant price action prior to the bisect line.<<

By the way I draw them this is correct, but not in this case.
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