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ed_kraut  
#1 Posted : Monday, May 30, 2005 7:33:50 PM(UTC)
ed_kraut

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Here is a series of numbers, worth remembering, that allows you to use your wris[censored]ch to determine the number of five minute price bars that have elapsed, in your time zone, since the market opened in New York. The series starts with 6 and the difference between successive numbers is 12. The numbers are 6,18,30,42,54,66,78. Here is how it works. Thirty minutes after the New York market has opened, the local time in your time zone corresponds to 6 elapsed five-minute price bars. Time increases by 12 bars for each successive hour until the market closes at 78 five-minute bars after it opened. Simply read the number of elapsed 5-minute price bars using your watch.
StorkBite  
#2 Posted : Monday, May 30, 2005 11:27:16 PM(UTC)
StorkBite

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Seems complex... why not just say hours open x 12 or something that doesn't require memorization? :?:
ed_kraut  
#3 Posted : Tuesday, May 31, 2005 3:23:43 AM(UTC)
ed_kraut

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g_stockman wrote:
Seems complex... why not just say hours open x 12 or something that doesn't require memorization? :?:
If you had a "diver's watch"(a watch with a rotating bezel) with those numbers on it, you wouldn't have to remember anything. The idea is that certain things happen in the market at about the same time every day. For example, reversals at about 6 bars and 12 bars The clock time for these events depends on your time zone
StorkBite  
#4 Posted : Tuesday, May 31, 2005 2:53:52 PM(UTC)
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Hmm...
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