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Stan:
OK, now I remember the name: I have the book "Profit magic of stock
transaction timing" on my bookshelf, Prentice Hall, 1970. I used to hand
draw Hurst channels when I graphed bars by hand. How does it differ from a
long ema channel? The kind I used to do by hand were a "best fit" type of
channel using a narrow channel for the short term and a very wide channel
for the longer term. I used a lot of tracing paper to sketch the best fit.
I have used Keltners in a similar manner on TS charts. I haven't read the
Hurst book in decades, so I hope I am not way off base. I see he talks
about the "constant width envelope" and uses a centered ma.
Don
----- Original Message -----
From: "Don Roos" <rosewood@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, May 19, 2001 12:01 PM
Subject: Re: [RT] SBUX
Thanks for the chart and info, Stan.
Not familiar with the name, Hurst channel. Is is similar to ema channels or
is there a component of volitility like Keltner channels? Is there an ela
available if it is in public domain?
Don
----- Original Message -----
From: "Stan Book" <sbook@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, May 19, 2001 11:59 AM
Subject: [RT] SBUX
The Hurst channel extrapolation shown for SBUX may well be overly
optimistic, but the channel is flattening. The 'projected' high probability
buy opportunity is based on the observation of visual patterns and an
extrapolation of past post turn price behavior - a 'possibility', not a
certainty. Future price action will determine if this becomes a viable high
probability opportunity.
The purpose here is to partially demonstrate a low risk, high probability
way to set up trades for gentle souls who seek the safest possible trades in
order to protect capital and achieve modest, reliable appreciation. This one
is not for rodeo cowboys.
Because markets are fractal, the approach also applies to other time frames.
Stan
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