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According to Curtis Arnold in his book PPS Trading System (in which he sets
forth a great deal of research on the patterns described by Edwards and
McGee), a rising wedge in an uptrend tested as 100% profitable when traded
short on the break of the demand line with a stop at the PH, although he
says there were not enough occurances for the results to be statistically
valid. He adds that declining volume is important. Generally, however he
notes that stock indexes (along with cattle and a few other commodities) are
unsuitable for trading with the patterns he investigated.
Earl
----- Original Message -----
From: Gitanshu Buch <OnWingsOfEagles@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, July 11, 2000 10:23 AM
Subject: [RT] MKT: Rising wedge on VLE
> A friend alerted me to this pattern a few weeks ago.
>
> Still seems to hold water, though the divergence may be disappearing.
>
> Chart as of last night close. The 200 day ma is about 8% below current
> price.
>
> Gitanshu
>
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