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It appears to me that the wedge "failures" may be due to incorrect wedge
definition, at least according to Arnold. He defines a rising wedge as
price entering the wedge at supply (upper) trendline (1st point of
contact), declining to demand line, rising to supply line, declining to
demand line, rising to supply line, then falling out below the demand
line. When the supply and demand lines for PEP are drawn, the criteria
appear not to be met and the first pattern is too broad for a wedge.
Earl
----- Original Message -----
From: "Gitanshu Buch" <OnWingsOfEagles@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, July 11, 2000 1:52 PM
Subject: [RT] STK: Failed wedges, 2 of 2
> Charts attached.
> No positions.
>
> Gitanshu
>
Attachment Converted: "f:\eudora\attach\WEDGE4.gif"
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