Freeze Tag Inc (FRZT)

[Imperial Whazoo]

Flattery will get you everywhere, LOL.

So, that said, lets talk "confluence". Whoa.... what?!?!?!?

Confluence is where two sets of Fib lines overlay each other.

As I pointed out in the prior post, the long Fib splay to use in this instance is fro the 11/12 low to the 11/14 high.

Here are the "thumbnail" numbers I drew up quickly, eyeballing the chart and using my chart package's Fib tool:
382 = .0236
500 = .0204
618 = .0172
786 = .0127

OK, so now on to "confluence"

To employ confluence, two Fib splays are needed. So, to that end, lets use the move yesterday, shall we?

When it opened yesterday, it immediately pulled back to a .0202 low, then in about 30 minutes, it climbed back to a high of.031

So, put up a 1 minute chart and use a Fib splay to draw out a Fib splay that uses .0202 as the low and .031 as the high.

OK, so here are the levels of that one:
382 = .0287
500 = .0271
618 = .0255
786 = .0232
1000 = .0202
1272 = .0164

OK, so we have multiple confluences, don't we?

And what were the points at which things held, yesterday & today?

These confluence. Thats the answer.

382 = .0236 <---> 786 = .0232
500 = .0204 <---> 1000 = .0202
618 = .0172 <---> 1272 = .0164

The thing danced within the Fib splays and the pro traders conducted themselves appropriately, with the several confluences acting as the focal points of action.... repeatedly.

Hope that helps, too.

Imperial Whazoo