Re: XAO Analysis
Interested to see motorways estimation and B%.
I will post more commentary on this later
But I will put these charts up now
There is only
. Price ---The range of each move ( wave of buying and selling )
. Volume----The quantity traded
. Time-------As in the sense of duration--- how long
and in the context of
Positon
. Position
OK ???
each wave of buying and selling has a certain, price range, volume and duration.... and a certain position...
Position is Prospect
There four things make up what Richard Wyckoff called the "four qualities"
and what reveals is the "character of the behavior" of these four qualities
convergent/divergent but also inharmonious and harmonious...
In context............Position is Prospect...
hence there is the trend and also the position in the trend.
the B% is a bottom up ( inductive ) map of position
it cycles between overbought and oversold
However we need the other three "qualities" to confirm that oversold is oversold...........
P&F is also a chart of positions..... on one axis is the price continuation ( trend ) on the other is price reversal ( risk )
P,V,T & Position... have various attributes
A 3 box reversal P&F I assume we have all seen .... The columns are drawn
by demand and supply... in this method of P&F the top of a rising column is the last point of supply ( the last point of resistance ) the bottom of a falling column is the last point of demand ( the last point of support )
because it unfolds in it's own time ( hint time is only another name for motion ) it is non linear and adaptive....eg The Points of resistance are moving higher and lower as demand and supply curves shift and rotate ..
So what is called a double top buy signal is simply prices moving past the "last point of supply" ( it need not be a buy signal )
The B% charts every stock on the ASX as a 2% x 3 P&F and then charts the number as a percent that are above "the last point of supply"
So it is a calendar of "Position" ( With a good calendar, compass and map ? )
and Position in context is
Prospect
so some charts.
B% and volume as a line chart
P&F as a 1.25% x 1 with some 45 degree trend lines ( reduced to see the whole cycle )
P&F again but just looking at the current action
( P&F and the bar charts will move at different speeds )...
"Secondary tops and bottoms"
on the way up above and then below the 45 degree trend
on the way down below and then above the 45 degree trend
B% is moving higher ( even though the index moved lower )
The 1 box P&F has narrowed ( demand and supply curves closer together)
The shape of the pattern from the bottom is strong ( called a recoil )
P&F also reveals harmony ( or lack ) between range and trend ( eg the count )
there is only P,V,T & Postion . You can either use them as tools for judgement
indications or as mechanical indicators ( even charts can used as indicators
)
The blue lines on the P&F are measuring the thrust of the waves...
( They and the move to horizontal )
motorway