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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?


To: catou1 who wrote (75919)1/18/2023 12:12:52 PM
From: Sun Tzu2 Recommendations

Recommended By
skier31
towerdog

  Read Replies (1) | Respond to of 98259
 
I have found a way to combine PNF charting with live candle bar charts. PNF seems to do a good job of creating support and target levels.

Here's a sample 5 minute chart on SOX. The horizontal lines are the PNF levels. Notice that whenever the price breaks into a new box, it tends to go down (or up) to the level identified by a previous box.

My problem is that I don't know how to project previously identified PNF levels into the present.

Any programmers amongst you who want to work with me on this?





To: catou1 who wrote (75919)1/18/2023 4:11:27 PM
From: Sun Tzu  Respond to of 98259
 
SOX 2750 (give or take) should be a strong support. But if it breaks, say to below 2730, then another 100 - 150 point drop will be in the cards.