Comments on: Intel INTC Chart Art Arc Resistance August 5

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Fri, 07 Aug 2009 00:37:54 +0000

See comment below about ensuring you have near perfect squares in your gridlines – in terms of the time (bottom) and price (right) scale.

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Fri, 07 Aug 2009 00:37:02 +0000

The secret to drawing chart arcs is to make sure your price and time grid is equal. In other words, look closely at my grid above to note that the grid forms perfect squares (or as close to perfect as possible, given that some months are longer than others).

This means you have to scale the time and price axes.

The best way to do this is to draw a 45 degree screen angle and overlay horizontal and vertical gridlines and ensure that 45 degree angle begins at the lower left of any square and runs through the top right of subsequent squares.

Your arcs will be wrong if you don't use this technique.

By: Steve

Steve — Fri, 07 Aug 2009 00:18:16 +0000

I meant to say they show price breaking through the arcs back in March.

By: Steve

Steve — Fri, 07 Aug 2009 00:17:35 +0000

When I draw from the Nov low to the Dec high the arcs don't go out nearly as far, they show breaking through them back in March.

So which one of us is doing something wrong??

By: Steve

Steve — Fri, 07 Aug 2009 00:14:04 +0000

I tried to duplicate this in my charting service and it looks completely different. The 2.618 and 3.1416 arcs are not at all close to where they show up in your example. Really confused….

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Thu, 06 Aug 2009 19:37:54 +0000

See comment below about ensuring you have near perfect squares in your gridlines – in terms of the time (bottom) and price (right) scale.

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Thu, 06 Aug 2009 19:37:02 +0000

By: Steve

Steve — Thu, 06 Aug 2009 19:18:16 +0000

I meant to say they show price breaking through the arcs back in March.

By: Steve

Steve — Thu, 06 Aug 2009 19:17:35 +0000

When I draw from the Nov low to the Dec high the arcs don't go out nearly as far, they show breaking through them back in March.

So which one of us is doing something wrong??

By: Steve

Steve — Thu, 06 Aug 2009 19:14:04 +0000

I tried to duplicate this in my charting service and it looks completely different. The 2.618 and 3.1416 arcs are not at all close to where they show up in your example. Really confused….