I mean, nine lines have to line up with something!
If you think of them as some sort of combined support/resistance - trend grid, then nine is not neccesarily excessive. RMBS is a better example, if you tilt your head and look at the chart, it starts to make sense.
stockcharts.com[w,a]dhclyiay[pd20,2!b20!b50!b200!f][vc60][iut!lb5!la12,26,9!ll14][J23679685,Y]&listNum=1
If the ASIA chart is valid (and since the lines are so steep, this is not yet proven), then it will be common in the future to see candles "straddling" the lines. For example, a hammer where the body is bounded by two lines and the tail ends on a third - nearly exactly. |
