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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (12081)	11/21/2011 9:01:56 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 12410

Okay... "What are the upper-most 2 dashed blue-green lines... 2 downward-sloping dashed orange lines?" They are divisions of 50% away from the median line... Plus they are 1/3 rd divisions away from either the action line or reaction line... Upper Line is the Action Line or Upper Tine Middle Line is the Median Line Lower Line is the Reaction Line or Lower Tine These lines are like magnets that attrack and repel price... that is how they should be looked at... *not as* channels or trend lines... (which they aren't) Heres a look at Brent Crude cash market... it is a good example... notice how the blue dotted line frames price... notice the blue lower tine and price action off this reaction line notice the cross of upper and lower tines there are 3 other minor pitchforks working in that chart after pivot # 1