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I would like to present a chart of June Canadian Dollar for your
consideration. What intrigues me is the series of white lines that I have
placed on the chart about 2 months ago. I started out by placing the two
lines indicated by the red arrows across a series of highs or lows that
seem to line up. Then I made parallel lines to the original lines. I spaced
them by eyeball and then by measuring the space between so that I could get
the spacing close to even. I have seen this type of thing on most charts.
It is interesting how the price keeps coming back to an intersection
between
two of the lines as shown by the blue arrows. It is a time consuming
process to put it on a chart. I'd love to have a tool that would allow me
to set up the first line an then simply drag out the parallel lines at an
equal distance(probably not on omega's wish list).
Do any of you have an explanation for this phenomena. Any ideas on how to
use it. Any other constructive comments.
Many thanks for your input/comment,
Brent
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