Playing around with angles
Notice an equal wave expansion… would put the target up near 1400 if we stay on this path.
GOLDTENT ANTHOM
Polls
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POSTING INFORMATION
Hey Mort, did you pick 47 on purpose?
The angle is arbitrary based on the “tightness” of the chart (zoom). I just connected the first wave and and applied that same angle to the second. If you zoom in more (pinch the chart) the angle will change since the candles are closer together. The takeaway would be that for any candle spacing, the slope of the waves is near equal (for the time being).
Basically, I show the angle only to prove that I am not “massaging” the look of the chart. Based on the candle spacing those two sloped lines are equal given the candle spacing. In trading view the angle is automatic, you cannot set it, it is the result of the slope of the line 🙂
Got ya, I ask because the time before you used 55… The 11 # in fib sequence. This time you used 47…the 9th # in lucas number series. Thought maybe you might be a number guy for market timing. I play in that realm quite a bit.
Thanks for answering my next question which was if you lock the x axis before you run your angles….Gann style.
Nice charts btw
Thanks hotdiggidy!