Kool's Tools question
I have gone through a few posts about Kool's Cycles and Kool's Time.
I apologize if this has been answered previously, but when doing Kool's Projections, how do you determine to measure the UP leg, or the DOWN leg of a move?
Maybe I'm not asking this correctly. I know I've seen posts that say "it's so simple." Uh, not really. I get the math part, but how do you determine which "leg" to measure? If you have a Long bias, you measure the UP leg?
Thanks.
MC
I apologize if this has been answered previously, but when doing Kool's Projections, how do you determine to measure the UP leg, or the DOWN leg of a move?
Maybe I'm not asking this correctly. I know I've seen posts that say "it's so simple." Uh, not really. I get the math part, but how do you determine which "leg" to measure? If you have a Long bias, you measure the UP leg?
Thanks.
MC
In each time frame chart there exists the potential for up and down projections which remain valid until full filled or negated (the projection starting point is touched).
You have to view this as a 3-D puzzle, where you must keep in mind the higher time frame projections when looking at the smaller time frame projections.
For example, in an uptrend (higher highs and higher lows), if you have an unfilled upside projection of 865 from a starting point of 840, and at the same time a smaller downside projection of say 845 from the current swing high of 850. The retracement back to 845 would not negate the 840 starting point, so the 865 projection remains dominant because the smaller downside projection is indicating a higher low.
You have to view this as a 3-D puzzle, where you must keep in mind the higher time frame projections when looking at the smaller time frame projections.
For example, in an uptrend (higher highs and higher lows), if you have an unfilled upside projection of 865 from a starting point of 840, and at the same time a smaller downside projection of say 845 from the current swing high of 850. The retracement back to 845 would not negate the 840 starting point, so the 865 projection remains dominant because the smaller downside projection is indicating a higher low.
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