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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (66161)	6/13/2007 4:26:05 PM
From: ajtj99	Respond to of 116555

mish, you are basically saying you make the chart look like you want it, and that is bias. You said, aj don't you think this chart would look absurd if plotted the way you state is he only way? The chart doesn't look right, so you move the line until it does. That method is subjective, and thus follows no consistent set of rules. If you started at the 2nd high off the 2001 top and then connected to the 2004 high, you would have a correctly drawn adjusted falling resistance line that would look much like the one you show, but it would be drawn with a consistent set of rules and no arbitrary candle slicing to make it look "right". It would not start out at the absolute top in 2001, but it would be correctly drawn following a method that would allow anyone to reproduce that line exactly the same way.