weekend charting feb 6/7, page-110

  1. 2,829 Posts.
    G.J and Johno,

    regarding WOW,

    You have both prompted me to try a few variations on the long term fork.

    The best bet is a "SCHIFF" alignment, which is at the median point of the swing prior to P1. As you can see, it does not do a bad job, but it accentuates the breakdown.



    I then added the yellow fork, which looks to be lining things up reasonably well



    From the yellow fork, I then extrapolated what sort of decline we would get using the old support points of contact as the new median line. Low and behold, we get a potential double bottom if it all played out as a result of a major decline.

    I will keep this one in my library and try to remember to dig it up in a couple of months


 
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