The idea of a harmonic is a deep esoteric one and a more complete explanation is best found in Quantum Trading by Fabio Oreste. A simple way of thinking about harmonics is aptly described by the definition penned in the 1940s by physicists Wheeler and Feynman who posited that the Universe consists of a standing wave which develops harmonically related standing waves and each of these does the same.
In my research, I recently came across Oreste’s book in the British Library in London that explained how to calculate and generate harmonic lines in the context of price charts. In the following weekly chart of the TSX Index, you will note that I have overlaid some blue lines. These are some of ( but not all of..) the Jupiter 1st harmonic lines. Note how these lines bound the price highs and lows in 20212 and the most recent lows in late October 2013.
The question now as the TSX pushes up to its old highs is – where will it go?
The Jupiter harmonics are suggesting that between now and end of March, immediate support rests at 13781 and immediate overhead resistance is at 14141.
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