IPH May Be Ready To Rally, page-30

Thanks. I realise the stock market doesn't operate on logic, but doesn't mean we should not also use logic in our estimations. In any case, yes I understand how you came to it geometrically, I was just wondering if there was a mathematical theory behind it (e.g. why horizontal from where you chose your bottom point, why not 5 degrees, or some function of previous movements?). To be honest, the only way I could see it working is if a majority of other people also use this method, in which case maybe there would be resistance from the whole herd. But apart from that, I can't see how it could be useful or accurate, each to their own of course.