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Looks like another bull flag with 25% retracement forming on the 5
minute chart just under the 62% pole price objective. We have breakout
above the wedge and move above pole high of 95-15 will confirm the move.
The steeper angle of the upper wedge line indicates possible weakness
relative to the previous wedge. Now running stop at 95-06, will
unconditionally exit trade at next price objective.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 26, 2000 8:51 AM
Subject: [RT] Re: Bull flag setup
> 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_05.gif"
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