DislikedHey Jaroo,
Thank you for your explanation on how to define a PPZ. I notice on your recent charts (about the pb on GU), there are lines which I take are your PPZs. Can you elaborate on that? I mean I know that you've given an example earlier on UJ. I would appreciate if you can show more examples on how to draw a PPZ. Or perhaps you can point me to your posts that talks about PPZ and how to identify them in details. Thanks.
Regards,Ignored
I like to start on the Weekly chart and fine tune the PPZs on the Daily chart.
What we look for are the tight PPZs, where S/R levels are on top of each.
Since Price has fallen so far south we can't find any good PPZs in 2008 and 2007. So we look at 2006 and there are many good ones.
Indicators show the past. Price Action "Indicates" the future.