In Figure 11-6, of PG, besides the time cycles that were illustrated in
Figure 11-5, Fibonacci price relationships were also suggesting a possible
high at that time. This is due to the overlapping price extensions of two
prior swings. In the price work chapters, I mentioned that you should
watch for the possible termination of moves at price extensions of prior
swings, starting with the 1.272 extension. If you knew that both time and
price relationships were coming together in early November, you would
have known to protect your profits on any long positions in PG at that time.
In Figure 11-6, of PG, besides the time cycles that were illustrated inFigure 11-5, Fibonacci price relationships were also suggesting a possiblehigh at that time. This is due to the overlapping price extensions of twoprior swings. In the price work chapters, I mentioned that you shouldwatch for the possible termination of moves at price extensions of priorswings, starting with the 1.272 extension. If you knew that both time andprice relationships were coming together in early November, you wouldhave known to protect your profits on any long positions in PG at that time.
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