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Watch for a congestion area on intraday chart with sharp break and reversal.
For example, this is extremely frequent in bullish and bearish triangles
where a false breakout through the horizontal line is followed by a third
hit to the sloping line which penetrates it sharply and then reverses. The
reversal is the signal to board the train for the ride through the
horizontal line. Variation is a long and sharp breakout through the
horizontal line which immediately returns the horizontal line - time to
board for the ride through the sloping line. The other type of reversal
which clears stops is a very sharp and deep "V" reversal.
Earl
----- Original Message -----
From: <BOTTrader@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Sent: Sunday, May 09, 1999 7:59 AM
Subject: Re: improvements - "Specialists Run Stops Before Turns"
> This is a fascinating comment..... HOW do you track this ???
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