TGT Symmetry analysis?
Hey Matt, great video on symmetry! I was going through my
watchlist tonight with this added tool for consideration and
came across TGT. I'm wondering how you would deal with TGT
symmetry analysis on the Daily chart from the recent high through
what appears to be a double top. Not looking for anything fancy -
just initial thoughts from a symmetry perspective. The V
bottom starting in early October and then the last ditch effort to
hit the old high in early November (slightly exceeded it) have me a
bit confused about how to draw the lines. I know it's not an exact
science...just wondering what you think.
one could go back further using the low of Mar 2020 as a major
low or even further back to the Dec 2018 low, which is where the
long term uptrend actually began. The issue you start to run into
is that price has appreciated a lot in that relative time frame -
from Dec 2018 price was in the mid 50's went up 5 fold to 260
recently. The problem you have is that using the point measurement
system at that point doesn't make sense to use a symmetry point
pullback in late 2018 or even early 2020 because a specific point
move back then represents a much more significant price percentage
move than it does now. One could look at the % move
pullbacks. To account for that price appreciation, one could use a
log chart instead, which is something I didn't cover in the video -
see URL, this has the pullback in 2018 and 2020 Mar roughly the
same (in blue), on the pullbacks in early 2021 and recently roughly
the same, in purple
TGT Symmetry analysis? Hey Matt, great
Posted by jtsurfah on 3rd of Jan 2022 at 09:48 pm
TGT Symmetry analysis?
Hey Matt, great video on symmetry! I was going through my watchlist tonight with this added tool for consideration and came across TGT. I'm wondering how you would deal with TGT symmetry analysis on the Daily chart from the recent high through what appears to be a double top. Not looking for anything fancy - just initial thoughts from a symmetry perspective. The V bottom starting in early October and then the last ditch effort to hit the old high in early November (slightly exceeded it) have me a bit confused about how to draw the lines. I know it's not an exact science...just wondering what you think.
on TGT - again relative
Posted by matt on 3rd of Jan 2022 at 10:26 pm
on TGT - again relative to the time frame you are monitoring.
if you count a downtrend from the Nov highs, then you would have a break in symmetry last week to upside
https://schrts.co/gDydVBsc
one could go back further using the low of Mar 2020 as a major low or even further back to the Dec 2018 low, which is where the long term uptrend actually began. The issue you start to run into is that price has appreciated a lot in that relative time frame - from Dec 2018 price was in the mid 50's went up 5 fold to 260 recently. The problem you have is that using the point measurement system at that point doesn't make sense to use a symmetry point pullback in late 2018 or even early 2020 because a specific point move back then represents a much more significant price percentage move than it does now. One could look at the % move pullbacks. To account for that price appreciation, one could use a log chart instead, which is something I didn't cover in the video - see URL, this has the pullback in 2018 and 2020 Mar roughly the same (in blue), on the pullbacks in early 2021 and recently roughly the same, in purple
https://stockcharts.com/h-sc/ui?s=TGT&p=W&st=2018-03-27&id=p96885898684&a=1090901450&listNum=59
Thanks Matt! This is VERY
Posted by jtsurfah on 4th of Jan 2022 at 12:05 am
Thanks Matt! This is VERY helpful.