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Thanks Tom.
"There is no rule that I am aware of that says a market
must consolidate prior to a breakout. I have seen markets perform
trendline, triangle, flag, pennant and other breakouts without any preceding
consolidation period many times. "
I know there are many ways for a stock to start a trend but my interest was
in this pattern. I guess it could also be called a trading range. I
was trying to get a handle on how to set parameters. I realize that these
are individual preferences based on style and experience and probably market
conditions and there are an unknown number of other variables that make this
question rather nebulous. I guess my intent is to get some input for a
starting point. If price is trading in a range of 10% over 10 market days
would that qualify or should it be some minimum such as 10% from high to low
over 30 days?
I suppose this is a philosophical question?
bob
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