Quote from baro-san:
First chart is better. Drawing a RTL through '95 and '02 will add some clarity.
Now we are getting down an dirty
Thanks for your reply.
This is the very reason I feel is the second monthly chart is something to discuss and rule out if it is an error, or possibility.
Explain what I see on second chart:
*If the first 3 part completed container ends a long up move on Oct 2007 throughout the years you mention, does that only complete Leg One UP Monthly Scale.
*Oct 2007 to Aug 2010 the retrace of the up channel. Leg 2
*September 2010 to current, the 3rd and final leg of this huge up channel.
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***( or does September 2011 end a down retrace that began on Oct 2007 and now the first leg of final container up just beginning ? )
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What I am getting at is this entire monthly chart from the beginning, a huge up channel... which has completed leg 1 on OCT 2007 ( 3 part build ), completed leg 2 August 2010 ( 3 part build ) and in the final 3rd leg move up ( which can really go sideways for years if it were to be ) which, within its 3 part container, is in its final leg up, which would whenever year it ends, is the start of a monthly down channel.
I don't have an answer to any of this, whether the first chart better represents the market, or the second chart. I am throwing it all out there and see what comes from highlighting different views.
Like another thread mentioned...Getting down and dirty is where the rubber meets the road .
Lets get dirty