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Hi DT,
Wednesday, November 19, 2003, 5:37:06 PM, you wrote:
DT> Yuki,
DT> could you please take a look at
DT> http://www.chartpatterns.com/headandshoulderscharts_.htm
DT> and tell me which example matches better to your H&S point of view?
DT> We could add some additional Volume conditions to the existing H&S
DT> code.
DT> 1. Do you want the Volume to form a H&S too [like JYC example],
DT> diminishing [like the BPC example] or something else ?
DT> 2. Does your picture agree with the volume expansion at the breakout
DT> [although it is too late for any action...]
DT> 3. Should we ask the 3 peaks to be a% higher than the recent [last 3-
DT> 6 months] lows
DT> 4. Any MAs condition as long as the H&S is created
While not jumping up and down and screaming with joy about any of
these ^_^ I would be most interested in the beans (good vertical rise
before the left shoulder, and a great example of volume declining
even as the head is built -- which is not a requirement in my book,
but is for sure an alert to what might be coming), and the yen, for
the same reasons.
The corn is not bad, but I like a bit more run up prior to the
formation. I can buy it though. Light crude, well the volume
doesn't scream at me. But again it's there.
To answer your questions:
1) without volume, it ain't
2) yes, volume needs to be noticeable at the breakout -- it should
stand out and be easy to notice, IMO
3) I've never thought of that, but it sounds good. Again, I like
some kind of almost vertical rise going into it.
4) I don't think so, but sure, in TA the more things you have going
for you, the more you increase your odds I think. If these form on
pullbacks to key MAs, maybe that's a bad sign, but I've never
researched them that way. Actually I haven't researched that many at
all, because I don't see them too often. But the ones I see are
death. They don't always fail immediately, sometimes they come back
to that neckline again and again, and get people calling it support.
But they seem to roll over more often than not, at least the ones
I've "called" that way.
I hope this helps a little, DT. But I'm very doubtful this
translates to "digital" very well. It seems very "analog" to me.
^^_^^
Yuki
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