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Strategies & Market Trends : Humble1 and Swing Trading Friends

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From: Joseph Silent	1/4/2012 3:26:32 AM
	Read Replies (2) of 41196

Potential primary channel on the weeklies. The following is the result of umpteen lines exploiting symmetry, periodicity and intersections. I deleted the scaffolding for simplicity and clarity. If you see some ghost lines, it's because I got tired and whited-out the last few. The middle of the channel is at 1400+. Conservatively speaking, we should be able to get there. Use the channel slope to get an idea of how long it might take, on average. That number would be a loose upper bound in a good market (meaning you can expect it to spike up there much faster). parallel black lines: potential primary channel; if so, we need to climb back into it and settle inside comfortably. Notice the struggle to get back inside. orange lines: where trouble (resistance) shows up periodically/regularly. Today (finally) we climbed over the recent and tough hurdle. red sloping dotted lines: danger zone

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