I often get asked about the significance between the two types of numbers that I calculate; what their significance is and in what ways do they differ. The best ways that this can be described and explained in detail is by an actual review of a day in the market. Click here and take a look at this snapshot from today (or copy and paste this URL http://www.screencast.com/t/2WezKJo9shVd).
REDLINEs can often give incredible accuracy to where the days extremes may happen. Though ORANGELINEs can sometimes have that same ability, REDLINEs will often act as magnets pushing and pulling price to the next extreme. There are a myriad of ways these price levels can be used. But take a look at the the snapshot above. You’ll quickly get an idea of how powerful REDLINEs have the potential to be in your own trading strategies, regardless of what your style may be.
Head over to the Uses page found here http://predictionpointtrading.com/uses.html and give Prediction Points a test run against your own strategies. If you’re like most traders, you’ll quickly see how valuable they are and soon wonder how you possibly traded without them.