DA
day trading
Rep: 39,586
Posts: 6,369
After a bit of messing around with my charts I managed to figure out that it's a 15 minute ES chart that you're showing right?
I understand the CD size versus AB size as a target resistance. What 2 numbers did you use to calculate the 1.272 fib resistance? I assume that this is cluster theory.
I understand the CD size versus AB size as a target resistance. What 2 numbers did you use to calculate the 1.272 fib resistance? I assume that this is cluster theory.
AL
alleyb
Rep: 150
Posts: 478
the range from c to d * 1.27.2 to give the projection. yes it was a 15 min chart however one could just as easily have used a 30 minute or hourly as well
DA
day trading
Rep: 39,586
Posts: 6,369
Now I'm confused. The (vertical) range from a to b multiplied by 1.272 gives us the target from c to d?
In other words:
Abs(a - b) * 1.272 = Abs(c - d)
Because I thought that:
Abs(a - b) was supposed to = Abs(c -d)
...?
In other words:
Abs(a - b) * 1.272 = Abs(c - d)
Because I thought that:
Abs(a - b) was supposed to = Abs(c -d)
...?
