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Price has now moved through resistance and we can make some price
projections. Heavy blue line is the 50% retracement of the daily w.3
decline. We have 2 bull flag projections: the first (95-13) is 62% of
the length of the pole projected from the bottom of the retracement and
the second (96) is 100% of the length of the pole. The green line at
95-30 is the 162% projection of the initial rally/retracement beginning
which began on the 19th. Stop has now been moved above the wedge
breakout assuring (net) breakeven on the trade. Because the trade is
counter-trend to the major trend (down), the trade will be closed out at
the earlier of price target(s) or close of trading.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 26, 2000 8:28 AM
Subject: Re: [RT] Bull flag setup
> Here's a look inside the bull flag using a 10 minute chart. Note the
> bullish wedge formation as documented in PPS Trading System by Curtis
> Arnold. The heavy red line is the entry stop and the sloping red line
is
> the PPS stop. Formations like this frequently occur just under strong
> resistance(support) such as the 95-0 area which can be seen at the
very
> top of the GIF.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, May 26, 2000 8:11 AM
> Subject: [RT] Bull flag setup
>
>
> > Attached is GIF of a nice bull flag setup on 30 minute bond chart.
> Note
> > that retracement is limited to 25%.
> >
> > Earl
> >
>
Attachment Converted: "f:\eudora\attach\USM_10B.gif"
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