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Yuki,
Be [technically] patient.
Your wedge will exist when the ^N225 High will be below
10678=11,008.56-3%
from the Jan9 peak.
Until then it will be an hypothesis.
Patterns need discipline, even when fully formated they are not
reliable.
Note also that, even if the Jan9 high will be a confirmed peak, the
trendlines will look more as a // channel than as a wedge.
We should wait one-two bars. [Who knows if Jan15 Low will be the next
trough...]
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> Hi Dimitris,
>
> Thursday, January 15, 2004, 6:00:58 PM, you wrote:
>
> DT> The ^N225 recent statistics [since May2003] have the next candle
> DT> inside the TEMA-Keltner bands, after a red candle. Shall we see
a
> DT> bulish pivot in the next 1-2 bars ?
>
> Unfortunately, older ^225 data (even from the beginning of '03)
> suggests this is not a very reliable next-bar or two predictor.
>
> Interesting times. We are now already (very slightly) negative on
> this very short year, and we did it on very large volume.
My 'wedge'
> call is not out of the question yet. ^^_^^ That's one of the
> frustrating things about chart patterns: they do resemble one thing
> one day, but sometimes a completely different thing 5 or 10 bars
down
> the road. We could have a flag here at the beginning of the year,
> but it's not looking very pretty, and the volume should be drying
up,
> not staying heavy or expanding.
>
> Yuki
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