Tuesday, 19 February 2013

E mini S&P plus how the angle of Reaction lines effect price

Well ! No downward correction seen on the ES H13 and a healthy burst of price action. I am still unsure of this move and have no short term long this week. A missed opportunity- perhaps and price (in theory) should carry higher to the high 1520's. At the time of writing we have a high of 1524.75 and 1523 trades. Are these two forks centre lines pierced on your platform cos they are not on mine

 Now how about the angle of a reaction line? The angles depends on the pivots used in the fork and on the time frame (as the lower the time frame the shallower the line) depending on scaling etc unless you use a 1:1 ratio. Here we use MT4 and autoscaling and have a look at the acute angled RL's and the effect on price. OK, it's not on every RL but its one of 28 patterns i have seen. including Andres observations such as zoom thru etc

 Gold below: see the different effect of the lines?

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