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part of the Ross Hook technique.
Gwenn
Phil Lane wrote:
> I'm finding this a bit hard to visualize - I guess it's a little different
> thing than I'm used to looking for. Maybe one of you has an example?
>
> thick-headedly,
> phil
>
> >
> > Earl Adamy wrote:
> >
> > > Also can be dangerous to buy at new highs ... a conservative strategy is
> > > to wait for a major correction followed by a rally which exceeds the
> > > prior pivot high (higher high) followed by a retracement which fails to
> > > exceed the prior pivot low (higher low) followed by a break above the
> > > previous pivot high with a stop at the previous pivot low. This provides
> > > a nice combination of buying near the lows while forcing the rally to
> > > prove itself against controlled risk.
> > >
> > > Earl
> > >
> > > ----- Original Message -----
> > > From: "Phil Lane" <patterntrader@xxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Friday, January 28, 2000 7:13 AM
> > > Subject: [RT] STK: more theories
> > >
> > > > It's dangerous to buy stocks in a correction, hoping for a great
> > > price. The
> > > > safest thing is to wait for a new high, i.e. let the stock prove
> > > itself.
> > > > That way you won't get stuck in a situation like this one -
> > > >
> > > > rgds phil
> > > > http://www.patterntrader.com
> > > >
> >
> >
> >
> >
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