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At 11:31 AM 9/19/98 -0600, Neil Harrington wrote:
>Allan,
>
>From what I can see, it looks like a channel breakout would have caught both
>of them on a 1 or 2 minute chart, and a momentum retracement would have
>caught the second.
>
>Neil
<snip>
Neil:
Reviewing the ticks:
At 1302: 1052.00 (H) - 1051.0 (L)
At 1303: 1050.50 (H) - 1048.00 (L)
At 1304: 1049.50 (H) - 1048.00 (L)
At 1305: 1048.50 (H) - 1046.00 (L)
At 1306: 1049.00 (H) - 1047.00 (L)
At 1307: Retracing
Pretty fast action. How long to recognize the breakout? Then place the
order? I think this really is untradeable. But, indeed, at the retracement,
if your system thinks it's due for some more it can catch it. BUT, if it
waits for price confirmation, it's too late because it's another high
velocity move.
Allan
"Two things are infinite: the universe and human stupidity; and I'm not
sure about the universe." - Albert Einstein
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