"Circles"(ARCs and FIBs) were the way of last week's(what seemed like)confusion....
Some may remember I posted a
'Gunner24' like version and FIBArcs for the XJO. Here's the combination of the two this time ... just to confuse you. See where our 'confusion' low was right between the two outer (5th) Arc rings. AND our 'bounce' (so far) has gone back to the confluence of the 2x1 Gann lines(I think I suggested it may well do). Also we have just popped outside the 423.6% Fib arc of that 1st range out of the Feb low(blue dotted line) ... a false breakout or warning????
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Then there is this ... Looking at a 4_hrly of the
SPI. In the S/T I looked at the GAP up range from Tuesday arvo's low and finish and our Wednesday's Gap_up Open(as the US election counting results started to come in). That range is shown in blue. Surprisingly(or not), after all the volatility, we eventually reached the 4.236% mark bang on(apart from a post Auction spike to account for the WBC/ANZ divi announcement @ 16:00). BUT this was not until we had the (Trump win announcement)collapse, that made a new low ... but right to the inverse 161.8% of the Gap Range on the downside 1st... THEN the big bounce came up to the 423.6%Fib. All too coincidental for me to fathom...Just weird ... but reassuring that these 423.6% Fib 'plays' and do work.
The trick, of course' is the identify the right 'set-up' and therefore RANGE.
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Now you will note on that last chart above a series of green and brown // lines ... To clarify I have 'blown' out the charts DATA to help explain. They simply started with two TL's. 1st the green line from our Oct Double top high down thru the next lower Oct high; 2ndly the brown line coming from the Late June low(4983.5L) and the mid Sept low. The ensuing //'s for both were then drawn from significant swing highs/low levels. Uncanny how these came in either equal distance(in the case of the green lines) or, in the case of the brown TL's, equidistance extensions outside the highlighted (thick brown)channel ... I have highlighted those equidistance ranges, above and below the channel, in dotted red. All to do with identifying market 'vibrations' which I am a great believer of, even in times of perceived chaos.
Ties in nicely with those circles and my Fib Arcs and
Gunner24 like 1st chart shown... Organised Chaos, right! The Asians have been doing it for centuries so why shouldn't we westerners follow suit!
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Have a great weekend, guys/gals ...
(20min delay)