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Hi Theo,
If I remember correctly, the drawdown is expected to have the same number
of points as the distance from the neck line to the head. Subtract this
draw down from the neck line and you have the target.
I've no idea in how far this guideline is founded on statistical
fact.
Kind regards & happy trading,
Jan Willem
PS Do you indeed work with targets in your trading? If so it might be
useful to have a discussion about
targets because I think the subject has hardly ever been
touched upon in this forum.
At 07:22 06.10.2000 +0200, you wrote:
List :
Look at BRCM chart and you will find (starting about
July)
a Head and shoulder formation "out of the book"
.
Has anyone of you research about the % downsize
of
H&S formations ?
Thanks and good weekend.
Theo Lockefeer.
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