Trading = a mirror to your human flaws. Fix them or be fixed.
As I have understood , Scott uses 2 projection to get to D 1) AB=CD or alternate extention of AB 2) Extention of BC and the area between these 2 projections is the REVERSAL ZONE area. Larry uses only the extention of AB as you mentioned.
I think you have said it better than I have
Anyway, I'd like to know whether price is more responsive to reversal using Larry's or Scott's.
Any thoughts?
- #429
- Aug 15, 2009 4:29am Aug 15, 2009 4:29am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #430
- Aug 15, 2009 7:45pm Aug 15, 2009 7:45pm
I think you have said it better than I have
Anyway, I'd like to know whether price is more responsive to reversal using Larry's or Scott's.
Any thoughts?
I use both the ABC Extension and the BC projection for D You will find they are very close as Y.Caesar said they Identify the revesal zone. but if you are trading from C to D, AB=CD is fine, you will notice that if your C is say at fib 50 then the BC projection of 200.0 or 224.0 will come close the the AB=CD.
If you use both and look at support, resistance, trend lines etc along with both AB=CD and BC projection you can identify the best place for your limit when trading to D.
Big
