Google Talk Conversation (1-4am EST I usually answer 1 on 1 requests):
Lucas: Heres one question I have about this. You group them as if they work together or something. Isnt this just 15 different angles? When I first tried the Diamond I just looked for one of the first 5 and found I could draw it in better just by sight. But that makes me think I missed something because you group them, can you shine some light on that? Thanks.
Sent at 3:49 AM on Tuesday
Mighty: Focusing on the difficult stuff again i see
Lucas: lol, Im also sitting here looking at your momentum pics as well trying to figure those out
just came up and thought I'd ask
Mighty: To answer your question...
with a question
ill do some true or false questions
a. the majority of the time the market travels at an angle of 75*
Mighty: oh, so you are saying that the majority of the time you can eliminate certain angles from the list of future channel angles?
not a trick question
Mighty: The trick is to think of the market as moving on one or two of five angles
of which 15 and 75 degrees are least likely
that means that a majority of the time price will channel between 30 and 60 degrees
there are related angles called sharps and flats
each main angle above has 1 sharp and 1 flat angle that is considered the main angle
25 and 35 degrees is considered a 30 degree angle
this is the 30* group
If you notice that price is following 30 degrees most of the time then it will either follow 25 and 30 or 30 and 35 degree angles
5 degrees is your margin of error
using this method you can some what predict what price will do in the future
thus fine tuning your trades
Lucas: thank you