Replies to post #412784 on *SCALPSWINGSTRADDLE* ($$$)

[~6979~]

Thanks...Predicting price targets is tricky business but there is a science to it...

The easiest method (and the one I used for GOOG) is measuring the distances of the previous corrections and applying those distances , projected from the most recent peak...(Theory reversed when determining upside targets)

You can go and look at the chart and see exactly where I got the first target (previous correction distance)...The second target was derived from another correction further back...

This is a Fibonacci technique...When you apply different T/A like Pitchforks,price supports and trendlines in the mix and your measured move touches those T/A's, it makes the measured move even more probable...
(You can call those situations "Cluster Targets")

I dont add all the annotations to my charts because it looks sloppy & unreadable/too busy...When I put a target on a stock you can believe that its not some random theory...

I'll stop there...Dont want peoples eyes to glaze over talking T/A...People write entire books trying to explain these things...I can hardly attempt to do it in a single post...