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#11 Chart Guru Doug

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Posted 17 July 2004 - 05:21 PM

I like H&S patterns. Use them all the time and find them to e very accurate tools for many different purposes. :P cheers
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#12 TomD

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Posted 18 July 2004 - 03:47 PM

some good stuff here!
Health Canada has just released a study which shows that 100% of the population who have been exposed to whole milk products will die.

#13 *JB*

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Posted 18 July 2004 - 08:46 PM

I've heard or read or both, that the DOUBLE BOTTOM is one of , if not the most, reliable of indicators. Anyone can confirm and elaborate on this?

As for double bottoms (and tops) -- or "M"s and "W"s, I do feel they are some of the best.

To me the signal is ripe when price takes out the middle of the "W" or "M" and the exit is at the same point. Low risk trading at it's best...IMO, that is!
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#14 OEXCHAOS

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Posted 19 July 2004 - 08:31 AM

This is very good work, folks.

I'm going to move this to the IU Board in a couple of days to archive it.

Valuable reminders are, well, valuable!

Mark

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#15 saltlake

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Posted 19 July 2004 - 10:32 PM

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=dna,uu[e,a]dhclyyay[dd][pc5!c15][vc60][iub14!ll14][j33670360,y]&r=5682.gif

#16 fib_1618

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Posted 20 July 2004 - 12:14 AM

Hi Saltlake Though a bit long in the tooth as far as the time its taken to trace out the topping pattern (no less the spike top), it would appear that DNA has all of the characteristics of a head and shoulders topping formation (with great shoulder balance to the structure) - and with the present position of the RSI, it could be a quick move down to the 40 level short term, on the way to the ultimate 35 objective. Nice find. I hope it trades well for you. Fib

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#17 traderpaul

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Posted 20 July 2004 - 05:39 AM

I will bet you if I flip a coin and plot that on a chart, I will get a head and shoulder pattern, a wedge, triangle formation etc......
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#18 BlissBull

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Posted 20 July 2004 - 07:23 PM

So many people know about H&S patterns, that they are often a great fade! The key element is volume (which the last chart doesn't even show, and sentiment. (If you are the only one to see it, it might have a chance)

#19 fib_1618

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Posted 20 July 2004 - 10:08 PM

The key element is volume (which the last chart doesn't even show, and sentiment).

Take a look again Bliss - there is volume on the chart - and it's consistent to what a head and shoulders pattern should maintain to be traded as such.

As far as sentiment is concerned, that's an interesting idea, though it's not technically needed as the price action, along with the proper volume considerations, does tend to take this into account in a round about way (and why volume is so important with this or any other structural price pattern).

And as far as too many people stirring the soup, that's always the one thing that every technician should consider for as more and more traders recongnize the same pattern over time, the less likely it will actually pan out because they're all waiting and trading the same technical structure which usually causes failure of the pattern...just like everything else in this business, especially Elliott.

Fib

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#20 Guest_Hawkeye_*

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Posted 21 July 2004 - 08:43 AM

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