[rudytrader]

Technically speaking, all there really is are swing highs, swing lows, zero, and infinity and unless the market is making new all time highs or lows, zero and infinity dont really come into play much . These are the reference points. It seems that time perspective is critical here as obviously most recent swing point values will likely differ on a 30 minute bar chart from those on a week bar chart. So high and low are relative to time. The logical next step in this sequence is then to look at price from the point of view from which on is trading, long term position players are waiting longer for opportunities as opposed to shorter term players whose ranges are obviously much lower and cycles occur much more frequently.