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>What are your criterion for a swinghigh to become a point 1, 2, or 3?
My personal criteria is eyeball and look for clear three drives. I do want
each drive to make at least a slightly higher high and prefer that each
drive be clearly visible. I also want momentum (whatever oscillator you
use) to be declining. In short, eyeball only.
>Also, how do you determine your trendline so it is objective as opposed
>to subjective? In the example you gave you said price interesected t1 at
>129^12, and your entry stop was 129^10. Is you entry price 2 ticks below
>the trendline on a given bar? I assume that the 1,2,3 points alert you
>to watch for a break of the trendline?
I view drawing trendlines as art rather than science. Most of mine
(particularly when they are intraday) are subjective. I wish I could give a
better answer, but I can't.
Do you have objective rules for
>this setup? not something that can be programmed in a computer, but
>something that two persons could objectively apply with checking with
>the other and both comeup with the same Three Drives setup?
Not really, but the setup does stand out and the viewpoints should be
similar. In fact I have had several e-mails on the last two setups in the
bonds where others have spotted the set up as quickly as I did.
Thanks for responding,
Stewart.
Stewart Taylor
Taylor Fixed Income Outlook
Voice: 501-219-9774
Fax: 501-228-0963
E-Mail: staylor@xxxxxxx
Web Site: http://www.cei.net/~staylor/
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