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Clyde,
Your SM looked impressing, working with sugar. Do you think you could do
something similar with Bean Oil.
Here we have what looks like a reversed H&S pattern. Furthermore it looks
like a perfect "3 drives to a bottom" as explained in Larry Pesavento's
"Fibonacci Ratios and Pattern Recognition" (recommended if your thing is
Fib and patterns!).
The bottom H is at the 50% retracement of AB
The bottoms a,c.H, are the 3 bottoms in LP's "3 Drives to a Bottom"
Retrace "ab" and you will find that bottom c is at 1,272 of "ab" (Square
root of 1,618)
Retrace "ab" and you will find that bottom H is at 1,618 of "ab"
Retrace "cb" and you will find that bottom H is at 1,414 of "cb" (square
root of 2, equally important ratio)
Looking at the Possible inverted H&S, we find that the right shoulder
bottom, is at 0,786 of "He" ( =square root of 0,618).
(These are perfect retracements, and honestly, really, how many people on
this earth do you think have noticed these retracements and made them
work?! It would be VERY interesting to have you all step forward in this
forum who did! Does anybody think that the number of people who did notice,
are able to move the market. I don't hink so. This is a very little known
pattern as far as I understand and it has not been published, to my
knowledge, until LP did.)
Please excuse my outburst and let's continue.....
The way I see it, is that we have a firm support at the 24.70 level and a
move above the 25,50 level would be VERY bullish. Measuring the H&S
pattern, we have a minimum potential of 26,54 (26,59=0,786 of the "BH"
mover).
TIME:
Checking time ratios we find that "cH" is 61,8% of "ac" in Trading Days.
Please also note other time ratios on the chart.
Finally one important thing, IF the inverted H&S is true, THEN the (S1)
(H1) (S1) H&S is False!!
We have a Fooler. That usually means DRAMATIC moves in the oposite
direction of the original (False) (Mercury retrograde?) move.
We have a very good example of that in the Coffee market (bring up a chart
from jan 97 and watch what happened after break of trendline (down) on Oct
16 -97).
Best regards
Stig
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