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I'm not sure if you are aware of the whole conversation that preceded the
post you are referring to. Dennis was saying that he doesn't want to use
anything that can be interpretive or subjective such as Gann or Elliot wave
method. Then he mentioned using volume that by its very nature has to be
interpretive or subjective. High volume at a certain time may mean this, but
then again it may mean that. You get the idea.
A fellow RT posted a chart of PX with many lines angles etc on it. I think
that he is in the process of learning about Gann squares, angles etc.
Eventually, he may find that he doesn't need all of those things but until
he has tried it I say put on any line that you want to until you find out
what you need to.
My position is that you use what you need to in order to trade successfully
whether it has lots of math, lines, volume, wave counts etc.. Also that
Gann, Elliot wave analysis doesn't have to be as interpretive or subjective
as some would think.
Brent
----- Original Message -----
From: "Phil Lane" <patterntrader@xxxxxxxxxx>
To: <brente@xxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, January 16, 2000 6:21 AM
Subject: Re: [RT] Re: Of boxes, vectors, pivots and S/R lines
> ----- Original Message -----
> From: Brent <brente@xxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Saturday, January 15, 2000 8:05 PM
> Subject: [RT] Re: Of boxes, vectors, pivots and S/R lines
>
>
> > You certainly can't be using something as interpretive and subjective as
> > volume. No, I don't think that volume has a place in your bare bones
> world.
> >
>
> When it comes to the daily stock market I have found that volume is VERY
> significant. For example, if you have some price formation like a key
> reversal, it's statistically much more meaningful if it occurs on an
> INCREASE in volume from the day before.
>
> rgds phil
> http://www.patterntrader.com
>
>
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