Today's square root idea is not new ( re: William Dunnigan ), however what is new is that I have worked it out on cable by unearthing it's unique multiple (0.0625). In this example I am applying it to the LOW 1.45648. Once you suspected that this low was going to hold for a while the S/R lines could have been easily generated using a calculator and a pencil. This can also be applied to a bear market ( subtract instead ), and the multiplier is likely to keep working for future tops and bottoms. Below is how to do the math.
Low: 145.648 ( I shifted the decimal 2 places to the right )
Square Root of 145.648 = 12.068
1st rotation multiplier (1 x 0.0625) + 145.648 = 147.160 ( convert to 1.47160 )
2nd rotation multiplier (2 x 0.0625) + 145.648 = 148.681 ( convert to 1.48.681 )
3rd rotation multiplier (3 x 0.0625) + 145.648 = 150.209 ( convert to 1.50209 )
4th rotation multiplier (4 x 0.0625) + 145.648 = 151.745 ( convert to 1.51745 )
5th rotation multiplier (5 x 0.0625) + 145.648 = 153.288 ( convert to 1.53288 )
6th rotation multiplier (6 x 0.0625) + 145.648 = 154.840 ( convert to 1.54840 )
7th rotation multiplier (7 x 0.0625) + 145.648 = 156.399 ( convert to 1.56399 )
8th rotation multiplier (8 x 0.0625) + 145.648 = 157.966 ( convert to 1.57966 )
9th rotation multiplier (9 x 0.0625) + 145.648 = 159.541 ( convert to 1.59541 )
The number of accurate hits is quite astonishing when you put this in perspective...these 9 S/R lines where generated from one number 1.45648..... As a trading tool, it is quite powerful both from the viewpoint of locating a trade entry and/or holding a position into the next ...not bad considering each level is 150+ pips.....
1.I will run them from the most recent high back on the 18 June and see what happens....I don't anticipate much of a shift in the levels.
2. I will run them from the most recent Low on the 30 Sep 2015....Reason The 2 Sloppy Hit's are actually communicating to me that the cycle has shifted slightly so if this is the start of an uptrend I can get these levels up early.
Will post an update