
Please make sure you have read my disclaimer! This is a personal journey into self-tutoring in technical analysis. Did you read that Disclaimer yet?
Disclaimer
Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Wednesday, 22 May 2013
Dow Industrials
So then, back to the 25 Day MyWave using the Hull MAs - not a lot of reaction yet to the price change but assuming it does, and price breaches the FLD band in green, what then?. Hurst Theory suggests that the distance from the turn to the 'cut' is half of the cycle in time and price movement (in a perfect sine wave that is!!). By measuring the possible distance and mirroring on the other side, we get an idea of what might happen in wave 1 or A down ( I hope!). As I am using 3 different MA's in this FLD 'band', which makes for different distances, I have created a zone in the red circle and the Harmonic Octave of 14687.50 looks about right. The angle of the lines is just an eyeballed 90 degrees to the Regression mean (dashed orange) of that last move up from 14453. All a bit rough and ready, but not a bad outcome for a first stab down if it comes to pass.

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