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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: BigBull who wrote (65528)5/1/2000 10:09:00 PM
From: hdrjr  Read Replies (1) of 95453
 
Big Bullish One,

PnF does not indicate time frames as I understand it. The potential move to 136 comes from a basing period from 106ish to 112. The last such basing period that resembles this one was from 80 to 94, the resultant breakout from the triple top predicted a 122 top, we hit 120. I am an absolute novice at PnF, but it is one of many TA's I consider. Since it does not take into consideration time it is not that useful for very short term traders. At this point in time I am no longer a short term trader therefore I have and still am establishing an extended time frame portfolio. For that PnF is somewhat beneficial.

Thanks for all the great posts and good luck,

hdr
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