This chart is a neutral perspective.
Every trendline on this chart is derived from the first red circle that has a radius of the distance between two lows in the market.
The midpoint of this circle is also given a red 30 degree angle trendline which can go into infinity in both directions, seems to be heavily respected.
The red circle has two tangent lines, one horizontal and one that is equal to 60 degrees and it also helps align the geometry that follows.
It's important to note that this chart is only composed of 30 and 60 degree angles along with horizontal and vertical lines to acknowledge support/resistance and time cycles.
Every trendline on this chart is derived from the first red circle that has a radius of the distance between two lows in the market.
The midpoint of this circle is also given a red 30 degree angle trendline which can go into infinity in both directions, seems to be heavily respected.
The red circle has two tangent lines, one horizontal and one that is equal to 60 degrees and it also helps align the geometry that follows.
It's important to note that this chart is only composed of 30 and 60 degree angles along with horizontal and vertical lines to acknowledge support/resistance and time cycles.
