by eric-pal » Thu Sep 28, 2023 8:59 pm
Nice observations.
The point of counting and measuring is to see whether there are imbalances, how much of an imbalance exists, and the intensity of those (or not).
If the movement of a retracement is strong, you are looking to see when this energy will dissipate. Why, because it is easier to move upwards when one isn't fighting gravity. Just ask any astronaut. Channels and trendlines help to measure this intensity through width and angle.
If you extrapolate the above across a few charts, I think you'll see the answer to your question
.
Hopefully helpful and good trades to you!
Nice observations.
The point of counting and measuring is to see whether there are imbalances, how much of an imbalance exists, and the intensity of those (or not).
If the movement of a retracement is strong, you are looking to see when this energy will dissipate. Why, because it is easier to move upwards when one isn't fighting gravity. Just ask any astronaut. Channels and trendlines help to measure this intensity through width and angle.
If you extrapolate the above across a few charts, I think you'll see the answer to your question :).
Hopefully helpful and good trades to you!
