Daily Plus

[rishimaxi]

Hi Jal,

Please keep on posting this thread. Its interesting to see how price behave on those vector lines. With you i also can post some charts(of course i studied from you ).

My thought on the lines.

" Price is not a vector. But price movement is".






Rishi

[Jalarupa]

Hi Rishi,

Okay here goes...

This chart is a little messy, but just try see how price behaves along the vectors... which create an area of support and resistance with the same rules as conventional s/r... pay particular attention to what happens when price enters a longer term area of inflection



This way of looking at PA, whilst messy at first (i'm starting to see it without all the lines... which is great because I never thought I could train my eyes to see in such a way as you can now just see Zlines and Mighty Zones without having to draw them... So its rather exciting...

[rishimaxi]

Hi Jalarupa,

It amazing how these lines got respected.Brilliant.. Here i marked UJ 30M.

Can you check my markups are correct.




R

[rishimaxi]

Please read the "supply became demand" as "demand became supply".

This chart is bit clean on what is happening to UJ.

[Jalarupa]

Hi Jalarupa,

It amazing how these lines got respected.Brilliant.. Here i marked UJ 30M.

Can you check my markups are correct.




R

Okay... yes the lines prove that there is definite DNA in the market at these angles//

The edit I have done shows that these angles are flexible and therefor not a exercise in precision (like MO says he tears them with his hands...)

I also note that MO gets the angles from the past (or predicting into the future based on a double hook (generally after some momo), which forms the angles of the triangle...) Then he makes two pitchforks by connecting the closest extremes and price seemingly travels along these pitchforks to their extremes.//

In drawing the initial pitchfork he then watches for a breakout (this helps him get his new extreme for origin for the opposing/complimentary pitchfork move)

What is now naturally created is a pennant... which acts to compress price as well as show or hint to future price direction in the form of a breakout and or subsequent pullback to the pennant...

Then you get range expansion or MOMO but this seems to carry until the opposite extreme of the pitchfork...


So your lines are correct and you are showing that the market has some definite fractal structures at these vectors but the way MO seems to do it, allows him a window into the future...

This is something I'm still working on deciphering myself... I feel that what we are showing is but the tip of the iceberg of understanding where this all goes...



So on an Hourly chart... this is what I see...

[Jalarupa]

Some more observations and permutations...




above I have created the second pennant (although I'm not sure this is the correct application of this method of study...


Here I zoomed out a bit and decreased the descending angle a bit... I also didn't make the pitchforks exact and I extended the study to included possible future movement...

And here is a case of IF/THEN in relation to the picture above...

[Jalarupa]

Take on the EN

[TheRumpledOne]

What is the problem here??

[Captain Pugwash]

The topic was being heavily spammed - I believe Michael Kreslik cleared the shite off it

Happy new year - and hope you all had a great Christmas

[Jalarupa]

This is a study of MO's guide to Triangles & Channels

I'm still puzzling this EN chart as it didn't take to the channel line formed with the corresponding pennant angle as the EU above... instead it took to the opposite angle... Hmmmm....