SPI @ open
by, 22nd-April-2009 at 09:05 AM (3771 Views)
IF the SPI opens below 3714 and
IF the MLs I have drawn this morning are correct, the studious Greg Fisher has come up with some stats that can be applied to the chart below (SPI 22.04.09)
at the yellow circle, 3715ish, there is a 46% probability of a reversal, and if that reversal occurs, there is a whoping 90% probability price will reach the line pointed to by the arrow.
if it were to do that shortly after open, we are talking 3685ish. as the day progresses, the price will increase due to bar progression up the mid blue line.
anyway, . . . we'll see.
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