Simple's Green Room

[pennies2007]

Near Term AU Matrix Completion

This is a follow up on the chart I posted earlier. Even in this last overall drop, we can see the completed matrix configuration. Sharp leg down at first...that's the thin leg. This last leg shows choppier action on the way down...a fat leg.

Interestingly enough, the 50% retrace of just this leg alone would fill the gap above 1.0362 perfectly.

So the larger matrix is pretty much complete in this area and we have a near term matrix leg finished. That's called a double intersection in Goodman theory and it's usually a powerful reversal point.