big daddy's cool hand luke 'moi' wednesday, page-40

Thanks Tanotfa.

Just in general for anyone that doesn't know what this discussion is about essentially it's about cause and reaction. In all charts there are certain drivers, periods of activity that determine future events, then there are reactions to those drivers. One of the hardest things for a TA to learn is to understand which is which. In the case of the May decline, the construction of that activity is a result of earlier drivers which gives it less importance in the bigger picture.

Tanotfa, on the techniques you've used I would pay more attention to the low of March 11 and the April 11 high, also on a smaller degree the leg of the 28/9 high to the 3840 low. Another note of importance is that in most case extension levels have more significance than retracement levels.

I'm off for the day but will be around tonight.

Cheers