PureBytes Links
Trading Reference Links
|
I've previously reminded TBT of the required
qualifications for a H&S with E&M and Curtis Arnold references to
proper identification of H&S patterns but he keeps throwing these things up
as H&S. For the benefit of new traders on the list who pickup such
misinformation and try to use it to their financial peril, I have attached a GIF
which shows what disqualifies this as a H&S. The idea is simple - high
volume on the rally into the left should indicates buying while low volume on
the rally into the right shoulder indicates lack of buying. Finally, the
pattern here is much too abbreviated (too few bars) to qualify as a
H&S.
Earl
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Don
Ewers
To: <A title=realtraders@xxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxx">realtraders@xxxxxxxxxxx
Sent: Wednesday, January 10, 2001 3:45
PM
Subject: Re: [RT] H&S on the
Bonds
Bill,
I noticed that too, but as another astute investor (Earl) saw the volume
on the right shoulder is larger than on the left, so be careful about this
"topping pattern" and getting too bearish. Could just be a minor wave 4
of big wave 3 (not a big wave 4) in a continuation pattern? Minor 4's screw
more trades up, I have learned to respect them (Vs predicting a big wave
4).
don ewers
eGroups Sponsor
Click here for Business information
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxx
Attachment:
Description: "NotHS.gif"
|