Using "Fixed Percent" Scales in Telechart
Using "Fixed Percent" Scales in Telechart
Using "Fixed Percent" Scales in Telechart
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<strong>Us<strong>in</strong>g</strong> the “fixed percentage scale” to forecast profits.<br />
Suppose when you enter a long stock position, you determ<strong>in</strong>e that you want this position<br />
to return a certa<strong>in</strong> “percent per month” of <strong>in</strong>creased value.<br />
And for purposes of example, let’s say you were able to enter your long position at the<br />
last major low! Below is a daily chart of ACAT which will demonstrate this concept well.<br />
Note that we are us<strong>in</strong>g the L = Loose scal<strong>in</strong>g option, and that is display<strong>in</strong>g <strong>in</strong>crements of<br />
5% for each vertical grid block.<br />
If we now use an open area of the chart, and with our Trendl<strong>in</strong>e tool draw a l<strong>in</strong>e from the<br />
bottom left corner of a grid block … up and to the right corner of the same grid block…<br />
we will have a l<strong>in</strong>e whose “slope” represents a rise of 5% PER MONTH. (see below).<br />
<strong>Us<strong>in</strong>g</strong> Percent Change on <strong>Telechart</strong> Price <strong>Scales</strong><br />
Last revision: 2008 Sep 08 © Jim Cooper w2jc Page 4 of 7
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