How is strength judged?
Posted: Wed Oct 08, 2008 9:25 am
One of the elements of a Yes pattern is the “strengthening†of the PLdot Refresh (and “weakening†of the Pushes) as the market approaches support or resistance. But what would that actually look like? How is increasing strength (or weakness) displayed on price bars? For a Refresh, would that mean that the bar closes closer to its dot? That is, the termination energy is strong enough to push price all the way back to its dot. A weak Refresh, then, would be shown as the bar’s closing further away from its dot; the termination energy is insufficiently strong to push price back very far. Other than the position of the close relative to the dot, what other visible clues of strength or weakness are there?
As for a PLdot Push, what else besides the length of the bar shows strength or weakness there? Perhaps the speed or momentum of the move, as shown by the fact that it takes very few bars on the LTP to complete the entire move of a HTP Push? But if you’re looking at a Push on the LTP chart itself, how else, besides the range of the bar, do you gauge how strong or weak the Push is? It’s certainly getting more involved the more I consider the implications of all I’ve studied so far—and I’m just beginning. It is also causing me to re-think almost everything I thought I already knew, not really a bad thing, that. M.M.
As for a PLdot Push, what else besides the length of the bar shows strength or weakness there? Perhaps the speed or momentum of the move, as shown by the fact that it takes very few bars on the LTP to complete the entire move of a HTP Push? But if you’re looking at a Push on the LTP chart itself, how else, besides the range of the bar, do you gauge how strong or weak the Push is? It’s certainly getting more involved the more I consider the implications of all I’ve studied so far—and I’m just beginning. It is also causing me to re-think almost everything I thought I already knew, not really a bad thing, that. M.M.