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Chris,
Great chart on the NAS 100! I see you are using lines within or
outside the pitchfork in .25 increments. Is this correct and is this
what you normally do or depending on the market would you switch back
in forth to fib #'s. Tim, please chime in as well. Thanks in advance.
Lenny
--- In realtraders@xxxx, Chris Cheatham <chrischeatham@xxxx> wrote:
> Some day when I get time, I'll write a book..maybe in
> code like Tunnel Thru the Air -- call it R E S P E C T
> by Aretha Andrews -- there is a lot of stuff here.
>
> But for now, here's a cash NDX chart (linear) -- see
> how the sep-jan swing stayed in a 2 (green) channel
> range -- when it broke higher, see how it stopped at
> the next line -- in the next down move, see how again
> prices stayed in a 2 channel range -- in the recent
> upswing, see how once a line was crossed, resistance
> becomes support -- last summer see how the ABC up
> falls neatly into the major channels ,etc. RESPECT,
> BABY!!
>
> Of interest is the solid green line a few points above
> todays high -- will prices reverse at this 3 channel
> mark like last rally and roll over again or power
> through??? Absent a gap through it, I'd bet on at
> least a pause.
>
> I am convinced that virtually every market in most
> time frames marches to the Andrews drummer. I have log
> charts with channels drawn of the 32 low in the Dow
> that still matter. Likewise, there are dominant
> channels in monthly FX charts dating from Bretton
> Woods. This stuff is much more powerful and useful to
> me than Fibonacci ever has been. But it is clearly a
> discretionery technique. The NDX channel is nice and
> clean and it is an obvious construction. Many are not
> so easy. But once you see, ahhh, RESPECT...
>
> Aretha
>
>
> --- In realtraders@xxxx, ztrader <ztrader@xxxx> wrote:
> > On Tuesday, May 01, 2001, 1:39:12 PM,
> chrischeatham@xxxx wrote:
> >
> > cyc> Sometimes nonstandard ones work better and you
> have to
> > cyc> visualize/play with them and find those the
> market is
> > cyc> respecting.
> >
> > What, exactly, do you mean by 'respecting'? A good,
> *quantitative*
> > definition for this would go a long way toward
> automating the lines,
> > or even using the lines. What's the difference
> between 'respect' and
> > 'no respect' (I know I'm going to get lots of
> wise-ass remarks about
> > 'respect'). :-)
> >
> > ztrader
>
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