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Earl:
Just wanted to say 'thank you'! for sharing your valuable insights.
Chas
-----Original Message-----
From: EAdamy <eadamy@xxxxxxxxxx>
To: Realtraders <realtraders@xxxxxxxxxxxxxxx>
Date: Thursday, May 10, 2001 8:54 AM
Subject: [RT] Symetry #3
>Following on my general comments regarding symetry yesterday in my first
>post, note the very steep decline on the left side of the extreme low
>without significant pivots - this has been very tough resistance. Now note
>the pair of blue horizontal lines drawn from the daily pivot highs 128250 &
>128750. Failure to reach at least one of these two pivot highs would be a
>sign of weakness while a move above those pivots will confirm the move and
>provide a support zone at the pivot lows - red lines. Key pivots such as
>those at the blue line are often price attractors and corrections often
>begin once the pivots have been reached. When price fails to reach such key
>pivots before correcting, the entire move is called into question i.e. if
>price does not reach one of these two pivots, the correction is likely to
be
>very strong. As always, I look for confluence between my pivot work and
>fibonacci expansions and retracements.
>
>Earl
>
>
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