Re: [amibroker] Wedges

["wavemechanic" <wd78@xxxxxxxxxxxx>]

Louw:
 
Here is Bulkowski's criteria (abbreviated) for a 
broadening rising wedge:
 
Characteristics:
 
1.    Shape - megaphone, tilted up, 
price action contained within two up-sloping trendlines.
2.    Trendlines - top trendline has a 
steeper upward slope and neither is horizontal.
3.    Touches - there should be at 
least 3 touches of each trendline.
4.    Volume - Irregular with tendency 
to rise over length of formation.
5.    Premature breakout - rare and a 
close below the lower trendline is usually a real 
breakout.
 
Statistics (157 in 500 stocks 
'91-'96):
 
1.    Number of reversals - 
139
2.    Failure rate - 
24%
3.    Failure rate for downside 
breakout - 6%
4.    Most likely decline - 
10%
5.    % meeting or exceeding measured 
target - 61%
6.    Average formation length - 116 
days
7.    Days to low for successful 
formation - 95 days
8.    Partial rise before breakout - 
84%
9.    Partial rise for all formations - 
48%
10.  Partial rise not at formation end - 
18%
11.   % with rising volume - 
59%
 
Bill
 
 
----- Original Message ----- 
<BLOCKQUOTE 
>
  <DIV 
  >From: 
  <A title=louwcoetzer@xxxxxxxxxxxxx 
  href="">Louw-Roux Coetzer 
  To: <A title=amibroker@xxxxxxxxxxxxxxx 
  href="">amibroker@xxxxxxxxxxxxxxx 
  Sent: Thursday, November 20, 2003 3:46 
  AM
  Subject: [amibroker] Wedges
  
  Hi 
  there all, 
  <FONT face=Arial color=#0000ff 
  size=2> 
  Just 
  a easy question that is confusing me a wee bit ....What is the technical 
  significance of a "Rising Widening Wedge" against & with a trend...see pic 
  for example...is it the same as a "Narrowing Wedge " with & against a 
  trend ?
  <FONT face=Arial color=#0000ff 
  size=2> 
  Kind 
  regards
  <FONT face=Arial color=#0000ff 
  size=2> 
  Louw 
  Coetzer
   
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