Strong Evidence of Time Zone Reversals
As you can see, the initial wave top uptrend high from the march low was reversed at 56 bars. The next movement from the june high to the july low was 32 days (23 bars). The following movement from the july low to the august high was, again, 32 days (22 bars). Both 32 day movements were a part of the redistribution phase of a price correction in XOP's components. The downtrend movement, again, had a minor uptick at 32 days; however, this price correction downtrend then continued further on to 56 bars. At 56 bars, a clear double bottom reversal pattern that conformed to commonly agreed upon percentages appeared. The drop from the 32 uptick down to the initial bottom was approximately 19% which fit between the normal 10-20% drawdown of a double bottom. The second bottom at 56 bars was approximately 2% lower than the initial bottom which fit within the maximum +/- 4% of a double bottom pattern. This pattern signifies a reversal of the downtrend, and was last seen in the month of March.
If we are to take this pattern at face value, since news and market geometry should not change dramatically any time soon, a 101 bar uptrend and consolidation phase began on last Thursday's trading. We, then, should look for a long position for another 21-22 bars (30 more days/November 30th). We could short into the middle of the 22-23 bar or 32 day (16 days/December 16th) consolidation phase, where a small inverse-head and shoulders pattern should appear. Again, we, could look for a long position for the 56 bar uptrend(Plus 16 days or half of the uptick within the consolidation phase), at which point, we could short again for another 32 days. Please notice, I have circled each possible reversal point and color coded them to either gains (green) or losses (red).
I also wanted to point out that there is a time correlation to 45 bars and the completion of the 56 bar trend reversal phases. As you can see, the first difference in bars was 11, the second was 22, the third then should be 33, and presumed completion of this cycle would then be 44. One more time correlation which I have yet to key out is the 57 day time zone from low to low. I have included it within the analysis because somewhere within the following unfolding trading days, I am sure this pattern will also become clear. It appears, so far, that the pattern could be 57 day, 57 days, 22 bars, 22 bars, 22 bars, ....??? Once the next uptrend and consolidation phase is finished, I am sure this time zone correlation will become clear.
Finally, the entire cycle take 360 days. This time frame is important because it is the 2.5 multiple of the universal harmonic 144, or the 30th multiple of 12. The time frame also corresponds to a perfect 2pi circular revolution of the unit circle with a radius of 1; furthermore, it signifies the 2pi period of a wave function. It is my belief that the 2 different time zone correlations described above are different wave patterns that both exist in correlation and interference to one-another within this perfect circle and wave period.
If we are to take this pattern at face value, since news and market geometry should not change dramatically any time soon, a 101 bar uptrend and consolidation phase began on last Thursday's trading. We, then, should look for a long position for another 21-22 bars (30 more days/November 30th). We could short into the middle of the 22-23 bar or 32 day (16 days/December 16th) consolidation phase, where a small inverse-head and shoulders pattern should appear. Again, we, could look for a long position for the 56 bar uptrend(Plus 16 days or half of the uptick within the consolidation phase), at which point, we could short again for another 32 days. Please notice, I have circled each possible reversal point and color coded them to either gains (green) or losses (red).
I also wanted to point out that there is a time correlation to 45 bars and the completion of the 56 bar trend reversal phases. As you can see, the first difference in bars was 11, the second was 22, the third then should be 33, and presumed completion of this cycle would then be 44. One more time correlation which I have yet to key out is the 57 day time zone from low to low. I have included it within the analysis because somewhere within the following unfolding trading days, I am sure this pattern will also become clear. It appears, so far, that the pattern could be 57 day, 57 days, 22 bars, 22 bars, 22 bars, ....??? Once the next uptrend and consolidation phase is finished, I am sure this time zone correlation will become clear.
Finally, the entire cycle take 360 days. This time frame is important because it is the 2.5 multiple of the universal harmonic 144, or the 30th multiple of 12. The time frame also corresponds to a perfect 2pi circular revolution of the unit circle with a radius of 1; furthermore, it signifies the 2pi period of a wave function. It is my belief that the 2 different time zone correlations described above are different wave patterns that both exist in correlation and interference to one-another within this perfect circle and wave period.
Comment:
Double-Bottom Analysis and Take-Profit Target:
