Tuesday, June 8, 2010

Bouncing Ball Indicator, only partly in jest

If Fibonacci numbers can control price movements, why can't ellipses?  Check this out, and check the lower chart....the bounce action might seem a bit boring until we reach the edge.

And below EUR /USD in pretty nicely proportional bear flag.  This wave 2 or wave 4 drawn out slow up's do a heck of a job of the infamous slow frog boil....killing shorts with tight stops.   Taunting the shorts repeatedly.   You could lose enough money that even when you are right, you just get back what you lost.  Ouch.  

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Insightful and Useful Comment!