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Commodity Trading Discussion Forum

Re: Tim Geitner's Proposed New Regulations/Hunter

Posted By: Lee
Date: Tuesday, 3 November 2009, at 9:08 p.m.

In Response To: Re: Tim Geitner's Proposed New Regulations (hunter)

Hi Hunter,
You were specific in your thoughts in this post, I want to be sure I understand you.

Your use of "daily" referring to the chart, I take to be a "one day, intra day chart" other wise I am lost.

Some folks use "daily" to refer to a longer term chart with daily bars.

This is your comment that leads me to the above interpretation.
"
The retrace from today's high is a zigzag that has a potential to much lower prices. Once it is done with the zig zag the next move up is much, much higher than today's high. The zigzag in the [daily] could last till next week."

If this is the case, then your first sentence:
"DX did a 5 waves on the daily." Leads me to conclude that you are referring to the 5 lower lows (dips) on the intra day chart - after that early morning spike high.

Please let me know.
Thanks, Lee

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