Hi Fishing and Beer,
The harmonic Bat pattern indicates only temporary lows- not the final low. In this respect, I'd like to share with you the chart of the fibonacci retracements and levels that many swear by, as a matter of discussion.
From the chart of ALL the pivot lows and highs of the XJO with measured sizes, of which I show the end portion, you can see that the XJO apparently showed a retracement of its previous immediate range of either 1.5 or 2.0 before it achieved a pivot low. By sequence counting, a 2.0 retracement is indicated. If there is no sequential counting, a 1.5 low is next in line, seeing yesterday we achieved 1.3 - but all these are, as you can see, temporary low pivots.
Imho, your low point marked around "C" on your chart is a point of interest for the longer term.
Thanks for the interesting explanation.
Cheers
dascore
harmonic pattern trader- weekly update4th june, page-9
-
- There are more pages in this discussion • 30 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
STX
Strike hands $48.5M contract to Clarke Energy to produce 20x 4.5MW gas engines for Sth Erregulla
TG1
TechGen Metals kicks off airborne geophys survey at Sally Downs copper play – a first for the permit
Add XJO (ASX) to my watchlist
|
|||||
Last
7,943.2 |
Change
-171.500(2.11%) |
Mkt cap ! n/a |
Open | High | Low |
8,114.7 | 8,114.7 | 7,920.0 |
Featured News
XJO (ASX) Chart |