Tuesday, July 06, 2010 10:54:32 PM
I am seeing point (C) occuring at .18-.21 also (give or take a few cents) but I do not see .05 as a likely target (not saying impossible) but each chartist to his own so I will not challenge your opinion here.. Although .18-.21 I believe would fall into the Fibonacci retracement zone which I am sure you are familiar with...
For anybody who wants to check the numbers for this retrace the formula for this MMD is going to be E-A=x x/2=y B-y=t (formula taken from Bulkowski) (capital letters reference the points on the chart)
Layman's terms: E-A = what? Take that and cut it in half, now you have ??? Okay now take your ??? and subtract it from B. Now you have t, also know as our target price.
Anybody else getting .05? I'm not..
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