RE:FYI a scallop is measured byI don't know about anyone else but I don't measure scallops, I just eat them.
BullTrap wrote:
Taking the range of the first move ,multiplying it by 58% ,taking that amount and adding it on to the peak of the first "scallop" to define and project a potential target point for the second "scallop" peak . So in my prior comment , the range of the first move was .055 x 58% =.0319 , rounded off = .03(but has a .005 window) added to the .30 peak = .33(.335) same projected target as the "J" pattern .
Inverted "J's" & scallops are calculated the same way .