Pay attention to the panic cycle line, and then look at October 6th.
A panic cycle, as you now know, means taking out the previous highs and lows.
What in the world could the double sized bar mean? Does it mean it takes out the highs and lows twice?
Now that I'm thinking about it, I think there will be an "outside reversal" meaning it will high a target in one direction, bounce off, then hit another in the opposite direction, and end up somewhere in the middle.
I wonder if I can incorporate a chat box into a post like I've seen on some places. So we can follow this real time. Probably yes, but will I take the time to figure it out???
Yes, I agree. For example lower to higher, then the next day higher to lower. A a bigger panic cycle bar usually means that you take out the high and low. A smaller panic cycle bar many times means forcefull in one direction. Next week will be very volitile. I pasted armstrongeconomics explanation for other curious people below.
ReplyDeleteA Panic Cycle is a target that normally exceeds either one direction up or down forcefully, but it is also a target that can be an OUTSIDE REVERSAL either to the upside or downside (meaning it exceeds the the previous session high and penetrates the low). Hence, a Panic Cycle can be a move either to the upside whereby it begins lower than the previous session and then exceeds the high or a outside reversal to the downside whereby it begins strong exceeding the previous high and then penetrating the previous low.