mikeavon

Silver's arc spider web!

CURRENCYCOM:SILVER   Silver
Here's another example of an arc spider web. The price action in Silver last night backtested the breakout from Jan 2011, this break out 10 years ago led to a huge move in Silver - could this happen again now!!! The secret to these charts is to find the centre of the arc (normally there's a long candle or symentrical price action in the middle). Once you've connected a few lines and found the centre, you can radiate the arcs out to see price action over time.

It’s why if you try stretching an arc to the right to accomodate changing price action, the less acurate the arc becomes as you're actually moving the centre of the arc away from it's energy point. Instead of stretching an arc you just add an extra ring (onion layer) to accomodate the new price action. The energy point therefore remains in the same place and the acuracy of the arc remains intact!

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