CBA 1.08% $88.80 commonwealth bank of australia.

marvellous fractal...

  1. 436 Posts.
    Hi kiddies,

    just had to post this - noticed on Bigcharts 1-minute chart for CBA today that a remarkable thing has happened - the pattern down from $29.60 today is the spitting image of the whole pattern down from $30.62 on 23 June 2003... to coin a phrase, "wheels within wheels". It's like an identical twin-brother of the larger pattern, squashed down into the smaller timeframe.

    The benefit of this development is this: the smaller pattern predicts the larger! From the close today, if the little pattern gets above $29.40, then the larger will go above $29.78... If the little pattern goes below $29.15, then the larger pattern will go below $28.90. Might not be a great deal of leverage there, but every little bit helps.

    Anyone committing to this view should still have safety stops, etc, just in case the prediction doesn't bear out.

    Anyway, I just thought it was interesting enough to post. No magic in it, just predictable market behaviour resulting from crowds of people acting like crowds of people.

    Regards,

    Ultrafart.
 
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