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Here's another shot with an update. Note how the Sunday globex low was
taken out and now a -.382 of that range at 1356.27 is being tested for
support. This thing is live animal.
BobR
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Monday, November 13, 2000 3:37 AM
Subject: [RT] General - daily price activity
> Every now and then something chart wise sort of grabs your attention and
> makes the viewer think there is something useful there, but expressing it
in
> a tradeable Buy/Sell fashion is illusive. The key has to be representing
> price in a certain way and applying system logic such that it can be used
> with the tradeables options, futures, underlying. That is no mean task
when
> price behaves as though it were a smoke particle rising in heated air and
> buffeted by crosswinds. Perhaps this chart shows the fractal nature of
> price that operates intraday as it does on end of day charts when
> considering one third, one half, two thirds retracements. It appears that
> prices are anything but random and have structure that could be
capitalized
> on, at least that is the dream of day traders. In the lower subgraph the
> straight red line is the detrended dynamic midpoint of the daily high and
> low. The yellow lines are 0.33 and 0.667 of the daily dynamic range
> centered on the dynamic midpoint. The green lines are the detrended high
> and low. They illustrate the birth of each new trading day followed by
> range expansion and a seeking of a rest spot until the profittakers and
> losers make an exchange. Thursday, Friday, Sunday show how the ES has an
> attraction for the dynamic midpoint and the .33 and .667 levels on a 24
hour
> basis. The challenge here is in coding the "if then do this" logic.
Either
> price has to be smoothed(detestable) or represented by the least smoothed
> but best proxy for an appropriate time period. Then some
support/resistance
> and crossover code would have to be applied. Clyde Lee did some work on
> such a system and it appeared to have some value. Am just wondering this
> morning if he has revisited this and has anything to add.
>
> BobR
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
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