actio-et-reactio
Balance is but a brief transition between extremes.
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Wednesday, March 13, 2002
Looking at the NDX 60m Andrews
If Elliott waves make you seasick, you might consider putting elbow grease into using Andrews pitchforks. The premise is simple: projecting the half-way point between two price extremes creates a map in both time and price. Like a pendulum, price will move between those extremes, and sometimes along the "trendlines". Jumping the track signals a change in plan, at which point one uses prior or new Andrews to create a new map. Users of Fibonacci and Gann will see Andrews as complementary as it often projects similar patterns. As a belt and suspenders approach, traditional TA indicators like RSI, MA, etc, can affirm your observations.
While there are "rules" laid down by Mr. Andrews, his students, and modern users, the best teacher is
your constant and consistent use of the tool.
Labels: bisects-forks-medianlines
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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