[mitsubishi]

Bowman: 'You see,something's going to happen.You must leave.'
Floyd : 'What... what's gonna happen?'
Bowman: 'Something wonderful'
Floyd : 'What?'
Bowman: 'I understand how you feel.You see,it's all very clear to me now...the whole thing,it's wonderful'.

[UrmaBlume]

Originally Posted by mitsubishi »

Bowman: 'You see,something's going to happen.You must leave.'
Floyd : 'What... what's gonna happen?'
Bowman: 'Something wonderful'
Floyd : 'What?'
Bowman: 'I understand how you feel.You see,it's all very clear to me now...the whole thing,it's wonderful'.

I think you need to get out more Mr. Bowmam - or I do because none of this is clear to me.

[mitsubishi]

Originally Posted by UrmaBlume »

I think you need to get out more Mr. Bowmam - or I do because none of this is clear to me.

I understand how you feel
But you're right,maybe i should sum up what i think is clear to me so far.Let me do that at the end of today's session...

[BlowFish]

I have been keeping a sideways eye here and was thinking a summary might be helpful at some stage. I was waiting to ask until you seemed to be in a good place to summarise where you were.

[UrmaBlume]

Originally Posted by mitsubishi »

I understand how you feel
But you're right,maybe i should sum up what i think is clear to me so far.Let me do that at the end of today's session...

Might I suggest precise sentences that:

1. Describe what points are connected by each line.

2. If the line is not drawn between 2 points but rather at an angle from one of those points or lines, then describe that point and the angle up or down from the horizontal, from the way I read it that will always be plus or minus 45 degrees.

3. What occurrence triggers the drawing of a line?

5. In what sequence are the lines drawn?

6. Once drawn what does the most recent line tell you about price action that has yet to occur?

7. What does any part or the sum of any parts of these line(s) tell you about price action that has yet to occur?

8. Upon what chart of what resolution in either time or volume are these lines to be drawn.

[mitsubishi]

I will do my best to address each of the questions you asked.It would be helpful if others would also raise some questions/points if you have any at this time.
Bob collett-can you tell us what happened with your experiment.Perhaps you could let me know which stocks you're interested in and i could have a go at them and we could compare results?

The market looks like it wants to test 912 resistance today.Looking at my last chart,you can maybe see why that is far more likely today than it was yesterday.Trading is all about probabilities..this model cannot change that but attempts to narrow them down.

[mitsubishi]

You can now see why the projected line from yesterdays low missed the close by a point (which is very close anyway) It connects exactly with the open today.I would also guess at this point in time that the possible close today is 916 (if it is an all day up not closing the open gap) or if we go sideways at 912 until 3pm the close could be 908.(project a line down from 3pm.That would also connect the rising line from yesterdays low). However a high above 912 would require a new projected line.Yes there are several probabilites and problems but it is down to the trader (as always) how to make use of this.

[mitsubishi]

I failed yesterday to project a line from yesterdays high and it connects to todays high plus i think my view was too rigid of how today might pan out.(always a mistake).The only thing i was right about is that we would challenge resistance which was emphatically held.And i am sure that a lot of traders were eyeing 912.Not that i am trying to show what a great trader i am or show that this model will make anyone else a great trader.Anyway,here's todays chart and now i will start answering those questions...