actio-et-reactio
Balance is but a brief transition between extremes.
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Saturday, January 22, 2005
21 January Bisects
Today was in some ways a close repeat of yesterday in terms of "The Play Book". The bisects placed for today bear this out: the major black one uses the gap open and first H and L, just like yesterday. The remnants of yesterday's forks (Green, Salmon, and Red) then provided points of reference.
For a different view of the price action, I've faded out the bars and overlaid a line chart of the 10m close. What is interesting in this view is, like before, the role of the Initial Balance H & L and the fib extensions as S&R. Also shown in this chart are the final Point of Control (thick blue lines) and Upper and Lower Value Areas (dashed blue), which are remarkably coincident with the fib extension S&R points.
Labels: bisects-forks-medianlines, chart-analysis
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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