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Another addendum, DT:
About all of these types of TA formations, I believe the following to
be true:
1) If it does not actually LEAP off the monitor at you, in other
words if you have to use some mathematical formula to find it, if it
is not so very obvious that you have little or no doubt, it probably
isn't there.
2) Even if it qualifies according to rule 1, it might not actually be
there. ^^_^^ But certainly it is not if it doesn't.
Seriously though, this is one of the things that fuels the "TA is
bogus" arguments. People try and find the most obscure formations,
formations that barely exist only in the mind of the most
imaginative, then when that formation fails they say, "Gotcha!"
Uptrends? If you can't immediately tell, I cannot help you. If you
need a formula to tell you, I cannot help you. You belong in another
business then (not you personally), I think.
Downtrends? Same thing.
Chop 'n' slop? Same thing.
Transitions from one to another? I'll let you know, but at times I
may try and anticipate, with carefully selected trades that I monitor
as if my life depended on the outcomes. (In a way, it does.) I will
not be right all the time for sure. I stand aside a lot.
It is only the very obvious that works, as far as I'm concerned.
Now I realize this does not help *at all* to create a mechanical
trading system. ^_^ But I've long felt that is a difficult thing to
do anyway, because of the quantification process that goes on for
even the most *basic* formation (H&S is pretty basic), a process that
it is *impossible* to get people to agree on. I don't think I would
ever try and get AB to "find" something that I think should be
obvious to my own eyes. That kind of system seems unlikely to be
very reliable to me.
Anyway . . . sorry for anticipating. I didn't mean to break the law.
^^_^^ I just wish I had anticipated such a disaster. I could go on
vacation until next spring.
Yuki
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