weekend charting, page-44

Now thats an interesting question Paul,

The idea is that you select a high and a low, which you nominate as P1 and P2.

If P1 is a low, look for a high of "similar" degree as the anchor point P(0), then draw the line from that point through the midpoint of P1 to P2, If it provides a framework around the price variations, that is what you are trying to do, so you might have it right. If it does not, then maybe you did not quite get it right. Have another go and see if you can find something that frames price.

Always use the highs and lows on the candles, not the real body open and close points.

Start by using standard forks, leave gap forks and schiff forks till you have drawn a couple of hundred.

Look for the test/retest behavior, the gapping of the ML, or the zoom bars across it. Seeing these conforming with your lines will give you confidence.

Put a chart up on the charting thread, and I will get Bones131 to give you an alternative view to mine. Radge is a developing practitioner as well.

Do you want me to repost the LNC "howto" from last week, or I could do a new howto based on your favorite equity with no fancy stuff.

best
t91