DOW - ES Charts 04/11 - 08/11

ChartMan

Legendary member
5,580 46
Read the comments, look at the volume bars and see if you can figure out why the price did what it did.... Why do we know that the bottom at 890.9 is the last low?
 

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Bill G

Member
92 2
The distance from head peak to right shoulder neckline is 10 points, the distance from R. neckline to 890.9 is nearly the same,a common rule of thumb that the reversal swing will move at least as far again as the distance from the top of the head to theneckline. on a longertimescale I would want to know what the general market is doing,where are major levels of support and resistance to be met,how does current price stand inrelation to historic price scale.
Bill
 
 
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