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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X9/17/2005 7:37:53 PM
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BALANCE POINTS

stockcharts.com[g,a]dacayyay[d19900810,19940306][pd20,1!d20,2][vc60][iub14!la12,26,9!lc20][J53089884,Y]&listNum=1

On many of my analysis I will mention balance points. This is where a battle has been fought over support and resistance in every trend near the center. I will use the percentage tool [fibanocci tool] and place the 50% area where this battle has been fought, the upper or lower percentage line will project the top or bottom which ever is the case. It is my own personal run that the balance point be in wave three of a move. Balance points appear to work on impulse waves and corrections
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