OnLine Cycle Analyst's Seminar - Cycle Identification - 22

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This chart shows a neat piece of geometry. The 3-point trendline was penetrated and prices dropped to touch the lower channel line, which is the same distance from the 3-point trendline as the higher channel line. 3-point trendlines have a unique characteristic in that support and bottoms frequently occur at this channel line. The 5DS has turned up in divergence, and prices are lower than the previous price low at "3", yet the oscillator is higher, for both the 10DS and the 5DS. A rise above the setup bar would indicate a potential cycle bottom, and could be followed by a rise to the MCP price objective of 65.90.