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Earl
Your response to Bill is a great post. One that I can really relate to.
There are many reasons for that: I am familiar with the S&P's; I am not
comfortable buying the breakouts or selling the breakdowns; I can never get
comfortable with black box systems; oscillators are always too late and prone
to whipsaws; I am absolutely certain that the pits run the stops; and I
believe that studying the price action is the only way you are ever going to
get even an inkling of what the market is trying to do.
In looking back through my 5 and 30-minute S&P charts I can see triangles all
over the place. But I don't know if I am drawing them right and I can't seem
to find a consistent way of interpreting or applying them. Would you be
willing to share more about how you use them and how you interpret them?
JT
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