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This is a follow up to my TBT comments in Chat of April 1, 2011, May 27, 2011 and June 1, 2011 :
Using Bo's Wave3 targets based on MIMA fans close to the reversal point, if there is a reversal in this area at the targeted low on June 1st, there is the possibility of a MIMA144 fan forming quickly. That gives a target of 200 % of Wave 1, which is in the 55 to 56 area. By extending a line parallel to the Wave1 trendline of 117 bars (Series 6 Fractal 6) out 233 bars (Series 6 Fractal 7 ) you get to that mid-50s level in April 2012. That's also a resistance area from April 2009. 144 weeks from April 2009 is in March 2012. Certainly a speculative strategy can be developed for taking advantage of this scenario if it develops. An alternative target is January 2012 (144 days from now) and 127.2% of Wave1 (MIMA34fan) about 47. This is shown in the accompanying chart.
Note: in June, the 117 days and 89 days are the number of bars from the December 2010 and February 2011 highs. The horizontal yellow line is the Series 6 Fractal 7 PhiBo 214. If you put PhiBo144 on the chart and look at it in Series 4, 5 and 6, you will also see that the February 2011 high is probably an area of strong resistance. Also, add PhiBo610 (will show in Series 4 only.)
Does all this analysis mean that it will happen? No. But it does provide a PhiCube logical framework for evaluating TBT's price behavior. Adjust as necessary until the "model" fails or succeeds.
(Click on chart to enlarge it.)