TREND & MOMENTUM
#1
Posted 12 September 2007 - 09:13 AM
mss
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#2
Posted 12 September 2007 - 09:18 AM
Edited by hiker, 12 September 2007 - 09:19 AM.
#3
Posted 12 September 2007 - 09:40 AM
The chart below shows what I see. The horz. are pivot points and the intersection of the triangle and upper pivot is very meaningful, if a upside breakout, or failure. IMO the RED line should give us an early clue.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p61289556629&a=116507500&r=3289.png
Those are closing prices, and the current point is assumed to be closeing as it updates.
mss
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#4
Posted 12 September 2007 - 09:58 AM
#5
Posted 12 September 2007 - 10:04 AM
....... maybe it was Tea or you mss.
...Yes on the price action question.
We both use triangles very often. I also use indicators on indicators at times, and so does Tea.
Edited by mss, 12 September 2007 - 10:05 AM.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#6
Posted 12 September 2007 - 10:05 AM
#7
Posted 12 September 2007 - 10:19 AM
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#8
Posted 12 September 2007 - 11:07 AM
#9
Posted 12 September 2007 - 11:19 AM
mss, I am new here, however, have followed and enjoyed your great charting ability for awhile, I really respect you. Charting is always about looking back. Had we draw a dotted RED line from same July high thru Aug 24 high and down, can we say the actions since late Aug already broke that RED line? Consequently, price bounced exactly off that line, a support now, on Sept 10? Similarly, we could draw the top triangle BLUE line thru Aug 24 top, and that TRIANGLE was also had a breakout at late Aug? Question here maybe this, if we keep drawing new triangles after price rises, when will it become un-reliable? Thanks!There are only two triangle patterns, IMO, at the present. Like any pattern, they are very reliable until they are broken. TL, pivots, channels, fib #, etc. But for me triangles have more valid boundries, till broken.
The chart below shows what I see. The horz. are pivot points and the intersection of the triangle and upper pivot is very meaningful, if a upside breakout, or failure. IMO the RED line should give us an early clue.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p61289556629&a=116507500&r=3289.png
Those are closing prices, and the current point is assumed to be closeing as it updates.
mss
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
#10
Posted 12 September 2007 - 12:10 PM
Question here maybe this, if we keep drawing new triangles after price rises, when will it become un-reliable?
They dont become un-reliable, any more than other types of trend lines.
You are talking TIME differences. Lets take a sequence.
[attachment=5948:attachment] CLICK TO ENLARGE
PURPLE CHANNEL - a break, a failed test a re-break
RED CHANNEL - no second point yet (posted charts with this pattern)
ADJUST CHANNEL - ?? maybe triangle forming, second point appears
BLUE DASHED - does not show me much, idea
BLUE SOLID - red dashed goes to blue also all other lines get changed to chart you are reviewing.
When we get a break, that changes the view, I will redraw what I see. All Trend lines, no matter what they are based on are time related. Fib#, channels, triangles, pivot lines, gann angles etc.
Hope this answers all your questions.
mss
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!