You can give different calculations of the price target from the bottom of March 2009. One goal is 1200 , like an inverted GUI. You can talk about the goal 1225 as fibo level from high to low of 2009. Some people use intermediate Fibo projections and get different goals.. But according to the method of the famous Tom Dorsey, who is considered the first expert in P&F charts, let's calculate what is the purpose of the last breakout of the triple top at the level 1100 of P&F.
I showed the support level with a dark red line , which was critical before the market crash. 1200
The yellow line shows the level, where the market last showed a HI before the crash. 1250
The blue line shows the pivot point before the collapse. 1240.
The blue arrow shows the level, where is the wide base for calculating the target on the weekly chart.
The calculation is as follows :
Reversal boxing value 3, base width 7, boxing cost 10, therefore, multiplying these values, we get the emission value from this base. 3*7*10=210. This is added to the smallest value in the last column., that is to 1060.
so , weekly target 1060 + 210 = 1270.
Because it's weekly schedule, then I do not exclude rollbacks or corrections.
Returning to the post on Geometric Similarity, then the figure 1270 fits quite well with that concept.
Think. which is quite obvious, that there are many calculation options. Each of them can be used in strategic positioning.
