WW Pattern - Relevance of Point-1; 4xQuad's "Tunneling" Concept
WW Pattern - Releveance of Point-1:
At this point, where price has reached the projected level of Point-1, one should expect a possible reactive rally, preferably back to the underbelly of the 2-4 Line.
Now, whether this occurs of not is a matter of whatever the chart decides to do, but the experienced WW pattern trader would probably wait for this to occur, as a matter of added confirmation.
More on this pattern development as price evolves.
In the mean time, read in the thread the discoveries 4xQuad made in this pattern, especially the rules of pattern definition, as well as the new concept of "Tunneling" as a way to define the important 1-4 Line.
Cheers,
David Alcindor | 4xQuad.com
At this point, where price has reached the projected level of Point-1, one should expect a possible reactive rally, preferably back to the underbelly of the 2-4 Line.
Now, whether this occurs of not is a matter of whatever the chart decides to do, but the experienced WW pattern trader would probably wait for this to occur, as a matter of added confirmation.
More on this pattern development as price evolves.
In the mean time, read in the thread the discoveries 4xQuad made in this pattern, especially the rules of pattern definition, as well as the new concept of "Tunneling" as a way to define the important 1-4 Line.
Cheers,
David Alcindor | 4xQuad.com