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Just to clarify by "unsuitable for trading", I am referring to the fact that
there were many more pattern failures, not to imply that they never work.
Earl
----- Original Message -----
From: EAdamy <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, July 11, 2000 11:42 AM
Subject: [RT] Re: MKT: Rising wedge on VLE
> 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
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