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Haytham:
I can only claim anecdotal evidence at the moment, meaning I am always
looking for them to reverse and make mirror images the other way. This is
also the case with chimney formations. In my work, both seem to have a
tendency to re-fill back to the beginning of the original formation. I will
now go back and see if I can actually "mine" some actual statistics on both
formations.
I would be remiss to quote a percentage number off the top of my head.
Personally, I find that my memory of a statistic rarely matches the actual
figure. And...it's always better to be right if you quote a figure.
I wish everyone a great trading day tomorrow.
Tim Morge
www.medianline.com
At 08:04 PM 5/30/2001 -0400, you wrote:
>Tim,
>
>Thank you for sharing your thoughts and thinking process for last Friday
>5/25/2001. From paragraph #9 I understand you were favoring continuation
>of the trend down because of unfilled gap down by the end of the day last
>Friday, this point, was the key point I perceived in your determination of
>favoring the trend lower, I was concentrating on the triangle formation
>and overlooked the unfilled gap down inside the triangle. I learned from
>this.(probably the presence of the the gap down inside the triangle favors
>break-down than break-up)
>
>I want to ask you why do you think water formations tend to make mirror
>images once one is complete, is there any statistic to support that?
>
>Thanks for your input.
>
>Best,
>
>Haytham
>
>P.S. I was planning to post some comments on NASDAQ tonight but your Gif
>pictures explained what I want to say.
>
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