Re: S&P
Posted by Wayne Fisher on 21:34 7/2/2009
You said..."The lines in this chart are telling a story about time and support and resistance."
I asked...what is that story.
Surely...to explain that the diagonal line running from 650 to 950(300) from the base at 90 degrees time to the top at 120 degrees time(30) is representing the 1 by 1 angle or the 45 degree angle which divide squares in half along the diagonal. Price, theoretically above the 45 degree line from the bottom is a strong position as opposed to being on the lower side of the 45 indicating weakness...would not be too difficult...unless one is trying to make something mystical out of it.
That is the story the 45 tells...anyone knowing this ought to be able to explain the proposed purpose of the 45.
Of course you know that all the lines are is a measuring stick.
If you have a more advanced theory of what story the lines tell…then I truly say…enlighten us…but whatever it is…just tell the story…or don’t post it.
Palease...