Mother Nature Sees Rackspace Is Going Over 87 Before Spring
Dragonfly Capital | Dec 20, 2012 12:48AM ET
You read that correctly. Mother Nature is in the stock picking business. Many of you are aware of Fibonacci retracement levels and apply them to your trading. They can be found in nature in things like the seed pattern of a sunflower, or a nautilus shell. But for some those levels are also tools to use to identify Harmonic patterns. These are patterns that can appear in stock price action.
So in essence, Mother Nature is picking stock prices. Scott Carney compiled these in The Harmonic Trader, published in 1999, into a trading system known as Harmonic Trading. There are many patterns involved in this style of trading but the most basic is the AB=CD pattern, and this is what sticks out in a stripped down chart of Rackspace Hosting (RAX)Original post
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