time and price

  1. 11,158 Posts.
    Iinet is my server in Perth and I was just having a look at the chart.
    It's the first time I've looked at this forum so my apologies if this has been covered already?

    Firstly the retracement from the downward range between the 22-2-05 top and 14-6-06 low was pure fibonacci at 0.618.

    22-2-05 3.85
    14-6-06 0.565
    8-2-08 2.59

    Range 3.85 - 0.565 = 3.285 x 0.618 = 2.03
    0.565 + 2.03 = 2.595

    Secondly there's a nice little T and P pattern working since the Nov 08 low.

    21-11-08 1.00 low
    100 x 0.5 = + 50days = 10-1-09[Saturday]
    12-1-09 1.34 top

    19/24-2-09 1.10 low
    110 x 0.5 = 55days = 15/20-4-09
    17-4-09 1.70 top

 
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