i invite traders to empty their tool box to show the importance of the pivot at red arrow and to show how strictly based on the geometry you were long at blue arrow... SHOW EVERYTHING you can think of

Geo - haven't you already shown this in your 'charts' thread?

roofer,
Thanks for the invite. Well, here goes:

Factors
"0.886 Fibo Retrace on a Gap Open."
A. ML Sets:
A1. Gap ML Set Black Downsloping
A2. Red Downsloping
roofer's blue arrow point is very close to area of crossing of MLs from these two sets, & price reverses there.
B. Lines:
Simple Line
C. Fibonacci Retracements:
Price
0.786
0.954
1.128
1.460
2.618 (0.382 Fibo Retrace from Red ML Set Point 3 "anchored" at red ML Set Point B
Time Fibonacci retracements
1.272 Bottom-to-bottom, low point before gap up to roofer's red arrow
1.618 bottom-to-bottom beginning of Wave2 to End of wave 5.
1.902 from beginning of Elliott Wave 1 to end of Wave 3
2.618 from beginning of Elliott Wave 3 to beginning of Elliott Wave 5 (top-to-top)
1.618 from beginning of Elliott Wave 2 to end of Elliott Wave 5 (bottom-to-bottom)
D. Elliott Wave:
roofer's red arrow point is the end of a 5 wave decline. Beginning of 5 wave decline is red ML set Point 1
E. Five Point Patterns:
XAB = 0.886
ABC = 0.786
BCD = 1.128
XAD = 0.954
0.886AB=CD
I think this is not a recognized pattern.
F. Bar Count:
Top-to-top of last upthrust, Red ML Point 1 to Point 3 = 69
Bottom-to-bottom, roofer's red arrow to roofer's blue arrow = 70.
Indicators:
Hidden Divergence in 14 CCI.

I think the main significance of the roofer's red arrow point is that it is the ending point for the five wave Elliot downthrust.

Comments welcome.

Good Trading,

Al KAmego

Thanks for that great work albert !

Well I post some charts from different timeframe.









PUH !

Mats

Want to add some more pattern with AB=CD and 0.786 ret from X





Mats

thank you for your replies...i was trying to see how others see the same geometry....what was key starting point for me was the repeated failure at .382 after completion of abcd with its 87%....

Thank you for this interesting exercise. It was revealing for me, because, unlike you, I did not even consider the "Kane ABCD completing at the 0.382 Fibo Retrace" as a factor in this one, despite the emphasis you & Jim have been placing on this type structure. I need to examine the way I perceive things! Awesome.

Thanks.

Good Trading,

Al Kamego

.382 is the most important fib out there if you wanna trade with the trend imo

M, thanks.

Al KAmego