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Views of DJI
- Thread starter capamunt
- Start date
It looks like we're headed toward 9,700 to me with your charts.
Also, how did you develop the 2nd or 3rd support (lowest <b>RED</b> dotted line)? Are you using some sort of Fib. number for the slope or what?
The reason I ask: Most supports are drawn with a minimum of at least 3 hits (textbook example) some people use just 2 to project forward. But the 3rd line you have seems to have only 1 point (point of origin). Just curious to know, thanks and keep up the good work.
-troll
Also, how did you develop the 2nd or 3rd support (lowest <b>RED</b> dotted line)? Are you using some sort of Fib. number for the slope or what?
The reason I ask: Most supports are drawn with a minimum of at least 3 hits (textbook example) some people use just 2 to project forward. But the 3rd line you have seems to have only 1 point (point of origin). Just curious to know, thanks and keep up the good work.
-troll
Hi Codetroll
In the figure the higher RED line IS the basis of parallels dotted lines based on the two previous minimum. The blue dotted lines are horizontal supports of Fibonacci.
In the other hand I think my first figure in this post is giving a new informatio, because the blue upper line is as A a resistance, then i B is a support and now in C it seems to change a resistance. If this is confirmed the consquences are important as you see.
Salut
In the figure the higher RED line IS the basis of parallels dotted lines based on the two previous minimum. The blue dotted lines are horizontal supports of Fibonacci.
In the other hand I think my first figure in this post is giving a new informatio, because the blue upper line is as A a resistance, then i B is a support and now in C it seems to change a resistance. If this is confirmed the consquences are important as you see.
Salut
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Interesting to say the least, I get a feeling we're going to fall some more before we get a bounce up. Let's just hope your scale and supports don't get broken or else we go to 5K eh? lol Wouldn't be good.
What fibs are you finding work well for the DOW? I have had partial success with fib support/resistance, but not as often as I would like to actually justify using them.
-troll
What fibs are you finding work well for the DOW? I have had partial success with fib support/resistance, but not as often as I would like to actually justify using them.
-troll