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Re: [RT] H&S on the Bonds



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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






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Attachment: Description: "NotHS.gif"