| maydel - 10/9/2012 22:41
I have a daily december live cattle chart with a large fork and failure to make a lower low. If I understand part of hagopian correctly then we should see a move past the latest pivot. Would this be the top pivot or is it satisfied from the center pivot that it has just reached?
Hi Maydel,
Not exactly. A hagopian really has nothing to do with moving past a pivot. The rule states it will move 'at least' that far the other way. There are different ways to measure this, but for me I will use the frequency of the fork that has formed the hagopian, by drawing a line on top of the ML that is the center of the hagopian, measuring out to the farthest point that price could travel away from the line (think of when you are stretching a rubber band...The point where your fingers are holding it would be the line, the fingers that are pulling the band is the farthest point price could achieve, it is ENERGY STORED), and flip that measurement over (SNAP..ENERGY RELEASED, the distance the rubber band traveled the opposite side of your fingers holding the band) and that will give the minimum projection from the stretch. Attaching a current ES240 chart showing a hagopian. The projection was easily met without trading outside of any main pivots.
 (HAGOPIAN.png)
Attachments
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 HAGOPIAN.png (85KB - 40 downloads)
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jpartner.....cattle chart
