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The end or a pullback?
- Thread starter monee
- Start date
He was talking about short-term daytrading.
Hello,
If you are surprised that Dow gives off so much at the end then look at this:
http://perso.wanadoo.fr/harrytrader/dji/011102/seance.gif
See guide http://perso.wanadoo.fr/harrytrader/_sgt/m1m2s2_1.htm
"Forcing zone: when an extreme projection of a scale has been broken, we said that it now becomes a forcing zone for this scale. This is a pattern trading (in interpretation section we will mean that this scale has been "violented" and that sooner or later market prices will turn back to retest this zone)."
Note the importance of 8549 on scale 3: http://perso.wanadoo.fr/harrytrader/dji/011102/cours_Plan_SPOT1w.swf
Friday Dow made a high of 8542.27 just near (just below) the same point which was at 8545 calculation of 31th October for 1st November: see http://perso.wanadoo.fr/harrytrader/dji/311002/cours_Plan_SPOT1w.swf
On scale 2 you could see "TL" symbol meaning potential "Local Top" http://perso.wanadoo.fr/harrytrader/dji/011102/cours_Plan_SPOT1d.swf
Dow goes beyond 8697 up to 8730.64 but it was unsustainable because of this 8697 pressure. I got 8731 on scale 1 projection at theoritical 50 time hour units that means (since time is activity in fact in this model) much activity has been consumed by level 1 to fulfill level 2 rally.
8730 goes to the extreme limit of probability zone of 8724 :
http://perso.wanadoo.fr/harrytrader/dji/011102/bornes_stats.gif
If you are surprised that Dow gives off so much at the end then look at this:
http://perso.wanadoo.fr/harrytrader/dji/011102/seance.gif
See guide http://perso.wanadoo.fr/harrytrader/_sgt/m1m2s2_1.htm
"Forcing zone: when an extreme projection of a scale has been broken, we said that it now becomes a forcing zone for this scale. This is a pattern trading (in interpretation section we will mean that this scale has been "violented" and that sooner or later market prices will turn back to retest this zone)."
Note the importance of 8549 on scale 3: http://perso.wanadoo.fr/harrytrader/dji/011102/cours_Plan_SPOT1w.swf
Friday Dow made a high of 8542.27 just near (just below) the same point which was at 8545 calculation of 31th October for 1st November: see http://perso.wanadoo.fr/harrytrader/dji/311002/cours_Plan_SPOT1w.swf
On scale 2 you could see "TL" symbol meaning potential "Local Top" http://perso.wanadoo.fr/harrytrader/dji/011102/cours_Plan_SPOT1d.swf
Dow goes beyond 8697 up to 8730.64 but it was unsustainable because of this 8697 pressure. I got 8731 on scale 1 projection at theoritical 50 time hour units that means (since time is activity in fact in this model) much activity has been consumed by level 1 to fulfill level 2 rally.
8730 goes to the extreme limit of probability zone of 8724 :
http://perso.wanadoo.fr/harrytrader/dji/011102/bornes_stats.gif