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AK
ak1
Rep: 858
Posts: 740
Good explaination KB, I voted it up. Now what I can't understand is that I see you use different time frames. I see you use 1/5/15/13/120min charts. This confuses me as to what to use when. Also you are suggesting that market needs to react at 1.618/2.618/3.618/4.618 and so forth levels provided it hits that projection at the end of the time cycle, confluence of events and numbers. My suggestion is that we use 1 min chart standard. Could someone please post the 1 min chart for 30/04 from 8.30 est to end of day. Lets see if we can figure something out amalgamating KB, pitbull and my mumbo jumbo.
KO
koolblue
Rep: 48,651
Posts: 16,032
thx AK,by way of explaination, i use 120 and hourly charts for the longer term picture( meaning 1-3 days or so) and i use 13 min basically for the main trend(one day or so) and the 5 min and one min to trade off of.These short term charts are good for 5 min to an hour or so. obviously the 5 min and one min are generally more accurate than a 2 hour chart, but i like to refer to the 'bigger' picture from time to time, like this weekend , where i showed the main projection from the rally high days ago(1216.75) is still outstanding! But the short term charts are what i spend most of my time looking at.
KO
koolblue
Rep: 48,651
Posts: 16,032
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. Now its not shown, but if we head straight down sun nite then i would be looking at that 1179.75-1181 area to hold. (1179.75 from the 13 min vwap and one min proj from 1186.75 to 1184.50=2.25x 2.618 gives 1180.86). Also the middle fork on the 2 hour chart around 1179.75......Click image for original size
