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| Hi Allis,
It seems you are getting caught in the pitfalls of price. Unfortunately I have trouble explaining it but its all about relative structures. When price makes a low, it is meaningless until it is confirmed or denied. It's simply a level where somebody tried to do something. So if you are comparing big swings to big swing, price has never been in a downtrend. But on the minor level, as we know - it hasn't been all up.
So, when price makes new highs, its confirmed, and until its broken it remain in tact. And all the other dancing around inside the swings are just minor swings doing their thing. So essentially you have these formations one price structure. Each has their own frequencies, and expenditures of energy - and likewise, their "cost" to price will be different too.
The last swing has a different look. It is much more vertical than the other apparently, and its minor that is big to us, 2008, is just a minor. People get all giddy.."it's holding support..its holding support". Ok...it not support on a relative swing basis. Price really likes to revisit those areas.
In fact, I could see it very easily as one whole formation. Frequencies are undeniable. But none of us will be around to see it play out...but we will be under its influence.
Hope that helps. Take Care | |
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Back to the basics: Market Structure
