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Hi Bill,
That is a correct assumption. Such a case
happened with natural gas futures that I will post an example of this
weekend. These curves take a while to "mature" to ensure they have
predictive qualities. A good example was the crude oil futures I posted
last weekend where I noted the resistance curve had been touched 3 times.
Though it was not tested this week, I personally would like to see it
tested once more before my confidence level increases. Also in the
crude example, there are several examples I could have chosen for the support
curve (choosing any two likely pivot points), though my personal preference is
to wait until 3 points present themselves on that particular chart in order to
"start" the support curve appoximation. Bottom-line, it's just like the
more standard straight S/R lines. The more times it's been tested, the
more confidence one generally has. Excellant examples are the T-notes
futures and Nasaq-100 futures. The curve allows for many more points of
test vs. a straight line. - Brian
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
wavemechanic
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, August 31, 2001 10:10
PM
Subject: Re: [RT] Nasdaq-100 "Stealth"
Curve Updated Chart
I assume that if price breaks the curve that a new
upward pointing curve will be needed. Do you have a standard way of
determining when such a change is necessary?
Bill
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
BL
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, August 31, 2001 8:53
PM
Subject: [RT] Nasdaq-100 "Stealth"
Curve Updated Chart
Nasdaq-100 futures prices hit a high Monday,
stopping on the upper "Stealth" resistance curve, and proceeded to fall over
8% in value during the week. All prices depicted are based on
closing prices. See current chart at <A
href="http://www.hitech-analytics.com/nasdaq_100_channel.pdf";>http://www.hitech-analytics.com/nasdaq_100_channel.pdf.
Allow time for the Acrobat file to load. Additional market updates will
follow. - Brian
Disclaimer: This message and referenced
chart are not trading advice. Trading in futures involves extreme
risk which is not limited to pledged margin capital.
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