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certainly you do not mean to say that patterns are strictly judgmental and
indicators are strictly objective.
true, edwards-magee patterns have traditionally been an exercise in
'judgement.' but anyone who wants to quantify these types of patterns can
do so in strict mathematical terms just as one can also quantify, say, a
stochastic signal. it is up to the trader to what extent the 'pattern' or
the 'indicator' is quantified.
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, March 21, 1999 8:20 AM
Subject: Re: Wolfe Wave on SnP
:Evaluation of patterns is not mechanical which is one reason so many
traders
:prefer to use indicators. Thus, it is nearly impossible to objectively
:measure the success or failure rate of a pattern. That said, a pattern is
:the expression of market psychology and the failure of a pattern is often
as
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