07-08-2009, 08:51 AM
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Member
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Join Date: Nov 2008
Posts: 814
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Quote:
Originally Posted by cmellon
Hi P,
Here's an updated one. As you can see, MTD 7 low was due around the red vertical line in the past two cycles. We are now in that position now, so I will be looking for medium term bottom soon.
Higher picture, as I explained before, MTD 6 high (139.2) has to be LTD 2 high as well because there has been three series of higher high from the low of 112 to the high of 139.2. Delta only allows a maximum of 3 series of higher high.
This means that LTD is travelling down.
So even though MTD 7 low is soon to be due and MTD will then travel up, since LTD is travelling down, we shall see a lower low and a lower high. This means MTD 8 high later will be lower than MTD 6 high (lower than 139.2).
You can see in the past two cycles, MTD 8 high arrival is very short. It's only a couple of trading days from the MTD 7 low.
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thank you so much  |
