actio-et-reactio
Balance is but a brief transition between extremes.
My Pages
Trading Friends
News & Reference
Credits
Content: amg
Basis: glish & bluerobot
Powered by blogger
Web Host: lunarpages
Search
Archives
Wednesday, April 06, 2005
A pretty lil Fib step rally
I've been tracking the action of this rally in daily posts over at dacharts. To keep myself honest (and keep this journal alive), I thought I'd better say something about it. A picture is worth a whole bunch of words. I don't think they come so close to form as this move. I also just love the way the bisect harmonics have played along.
Trading it, however, has been more than a challenge as the intraday price action has been fast and chaotic, the later being reflected in the numerous intraday expandos that have formed.
Expandos are perhaps like hot chili's, you either love them or wonder just why in the world people actually like them. Expandos, a.k.a. "Broadening Formation", is, like all patterns, a reflection of the underlying trading sentiment, in this case, drenched in the emotion of buyers and sellers fighting for fair price. The buyers have won every round, this time.
click to open in separate pane
Labels: bisects-forks-medianlines, chart-analysis, expando, fibonacci
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
recent comments
