Occasionally the 259 bar cycle turns in an acceleration of the trend as it appears to have done today.
And that works in both directions.
The openning today marked 210 bars and that open got hit with a 5 min sharp dip.
Today at 2:26 pm the marekt hit it last gasp and started its downward trip to Jan 4th.
I ve mentioned the 259 bar cycle many times.
its 12 bars per hour on the 5 min chart and 78 bars per day.
Normally the cycle marks a low at fibo levels of 126 and 204
However, I have observed MANY times, there are signifigant lows at 90/180bars.
Once you have observed those points, you will get the hang of it.
Im sure If your day trading index options this tool is invaluable.
Its a rythm that is clearly observable.
I bot puts at 2:30pm, and missed the best possible price by a few minutes, but Im satisfied as the close added value to my purchase.
PLEASE note that I will NOT be posting anything next week, unless I can get to a computer, but for the most part, I will be on vacation.
Jay
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