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Symmetry Wave analysis rests on a remarkably sound foundation: markets retracements often match in an ongoing trend. It organizes market action and is tremendously useful. However, it has the following problems:
1) It does not define a trend.
2) It ignores congestion areas.
3) Very little guidance is offered on exits (the concept of overextended wave structures doesn't appear to be as reliable as the other parts of the theory).
4) The matching criteria of retracements (+/- 20%) is arbitrary and not driven from market structure.
I have seen occasional references (without any details) to "Accutrend", Michael Gur Dillon's followup work. Does anybody have any details or experience with Accutrend ?
I learnt about SymWave Analysis due to John Boggio's excellent posts. Thanks John!!!
Regards
Naim Abdullah
ABN AMRO Bank N.V.
Pakistan
Email: naim@xxxxxxxxxxxxxx
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