CHANNELS – Minor Key, Tracker, Preferred view

Minor keys are levels which mark the levels for a correction (RED), which are kind of inflexion points. Till the time prices remain above the minor key, the trend remains positive for an uptrended scenario and vice versa. It’s a kind of level to watch suggesting whether the ongoing trend is in place or getting over.
We are only talking about an uptrend that is correcting down in red legs. The explanation below will change if we are looking at a downtrend (black legs down) and red (correction counter trend) pointing higher.
Minor key is used by us to decide on one of the four RECOMMENDATIONS. Is the minor trend (less than 3 weeks) still UP or is it UP BUT TOPPING, is it DOWN or DOWN BUT BOTTOMING. So along with the MINOR KEY one needs to observe the continuity of recommendations and current recommendation.

Even MINOR KEY is a dynamic level. For example the prices turn down by breaking a MINOR KEY. We put the recommendation as DOWN and put a new MINOR KEY. This process continues till one MINOR KEY does not break and holds.
After a while if prices take support and start turning up, you will see that the recommendation is challenged. This is where the STRENGTHEN and WEAKEN levels come in. If a minor key breaks the STRENGTHEN levels keeps telling us that the DOWN recommendation is in place and strengthening. When MINOR level does not break, the WEAKEN levels tell us that the DOWN recommendation is being negated and it’s time for review of the recommendation as maybe the trend is reversing.