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<DIV><FONT face=Arial size=2>One of the really good patterns, but not often
referred to is the wedge which breaks back. Not seen day trading
very much on the 5 min charts, but good when it happens on the daily - like the
Dow, as per the gif attached.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>I originally marked this chart up when the market
broke north out of the wedge, where it went shooting off for a good position
trade. Then it reversed and started to fall back and back and
back. Then... bang, it goes through the original, extended,
line. Nice!</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>I am sure there are a million reasons why it is not
a perfect something or other, or not measured correctly or something only worth
anything because it was after the event. Maybe. But now some
of you know of the possibilities, perhaps it will be something worth looking out
for - on other time frames as well... It is actually a better, if
not so common, phenomenon than the H&S (and that is controversial enough,
when it come to plotting it on a chart - but with the Dow closing 379 points
down and the S&P 34 big ones, something had to be right...!!!).</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>Bill Eykyn<BR><A
href="mailto:t-bondtrader@xxxxxxxxxxxx";>t-bondtrader@xxxxxxxxxxxx</A><BR><A
href="http://www.t-bondtrader.com";>www.t-bondtrader.com</A><BR>"Learn to read
the tape"</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
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