Sliding Parallels in CI taken off an old pitchfork
LMT put in a motive wave, retraced and then put in another motive wave of the same % move. Frost and Prechter in their book said this is a common occurrence so i've been watching and sure enough here it is.
This chart shows the relationship VNR has to the price of crude. The recent selloff in crude has been mirrored by the selloff in VNR.
Two fib levels are around the same price leading me to believe that price will pull towards that area. Given the nature of ARII's price history and it having consistently moved to fib levels, this could very well happen.
Someone tell me I'm crazy for thinking this pitchfork is relevant to current price movement. Thanks
Visa finding support at the 2009 Fib extension, for now.
Just started working with Schiff pitchforks after working with traditional for a while. Amazing how relevant these are. Hope this helps
price extensions are gains from the BTFD at the bottom of the linear regression channel system