hurst bands -statistics- and wavelength 40

Hi friends,

More on POH for some Friday afternoon entertainment:)

2 Hurst bands were drawn over the daily price chart of POH to determine the statistical bounds where prices will want to go. We just let statistics tell us where the bound is- and in POH's case, it seems to say somewhere around 0.21 for this time around as shown around the outer bound. Prices are now hanging at the first upper bound of an inner Hurst envelope.

Now, next--POH is running on two dominant cycles right now, and I have isolated the cycle with wavelength 40, and we want to see whether this cycle is of any good use or not in picking the bottoms of the price ie we want to check whether the bottom of the cycle is occurring together with the cycles of price. If they occur together or closely, we can use the cycle bottom to predict or mark the price bottom in considering our investments or trading.

To do this, I have marked all the past bottoms of the cycle of wavelength 40 with a pink coloured arrow and mark it to the price chart so you can quickly see whether the cycle bottom is any good to be used to locate price cycle bottoms as well.

The last cycle bottom is colored red and extrapolated to the price chart.

I'll leave it to you to form your own conclusion whether the cycle of 40 wavelength can be used to pick price bottoms or not...as an afternoon exercise after a heavy meal.

Have a fantastic weekend, make it a family affair.
dascore