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John:
I do not disagree with anything below, but I would add:
A) The critical factor is how you define the market as "trending."
B) From an EL code perspective a swing high / swinglow can be formed by a
"one bar correction."
SWINGHIGH(1,H,1,XX)
Haoli Makahiki Ho!
Happy New Year!
BW
>From: "John F Berentson" <jberentson@xxxxxxxxxx>
>To: "Jim Johnson" <jejohn@xxxxxxxxx>, "Piranhas R Us"
><piranhasrus@xxxxxxxxx>, <omega-list@xxxxxxxxxx>
>Subject: RE: Ross Hook
>Date: Fri, 29 Dec 2000 12:39:24 -0500
>
>The Ross Hook should be traded intraday on the breakout of the daily chart.
>The market should be trending. The difference between the Ross Hook and the
>1-2-3 formation (essentially a swing-low/swing-high) is that a Ross Hook
>does not have to have a definitive high or low and only requires one
>correction bar. The Ross major entries from the daily chart include:
>
>1. The breakout of a trading range.
>2. The breakout of a 1-2-3 high or low.
>3. The breakout of a ledge.
>4. The breakout of a Ross Hook.
>
>In most cases, Ross recommends against trading a gap breakout.
>
>While it doesn't fit my current trading strategy, I have traded the ledge
>breakout successfully in all time frames.
>
>JFB
>Shaven Heads Trading
>NYC
>
>-----Original Message-----
>From: Jim Johnson [mailto:jejohn@xxxxxxxxx]
>Sent: Friday, December 29, 2000 11:38 AM
>To: Piranhas R Us; omega-list@xxxxxxxxxx
>Subject: Re: Ross Hook
>
>
>Hello Piranhas,
>
>attached--I got it from John Berentson and have never used it.
>
>Best regards,
> Jim
>
>Friday, December 29, 2000, 10:46:15 AM, you wrote:
>
>
>PRU> Has anyone coded Ross Hook?
>
>PRU> =====
>PRU> Julian
>
>
>
>--
> mailto:jejohn@xxxxxxxxx
>
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