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Curtis Arnold - PPS Trading System:
Ascending triangle with trend:
------------------------------
Up: 43.2% profitable
Dn: 20% profitable
Descending triangle in downtrend:
-------------------------------
Continuation: 18% profitable
Reversal: 52% profitable
Also some info on rising wedges I posted earlier to another list ... this
pattern is second in profitability only to double tops:
Given the interest in the rising wedges which have been appearing recently
on hourly and daily charts, I thought it might be of interest to relay some
info from Curtis Arnold's PPS where he further develops the work of Edwards
& Magee and cites some statistics.
"The rising wedge is a 5 point pattern. In one formed during an uptrend,
there are two points on the demand line [lower] and three points on the
supply line [upper]."
"Of this pattern, Edwards and Magee said: there is no evident barrier of
supply to be vaulted but a gradual petering out of investment interest.
Prices advance but each new wave of interest is feebler than that last.
Finally demand fails entirely and the trend reverses."
"There are two types of rising wedges. One type develops as a topping
pattern after a previous uptrend; the second type starts at the bottom of a
preceding downtrend."
"rising wedges are too profitable to ignore. Those that occur after an
uptrend are nearly twice as profitable as those that occur within a
downtrend. If you have studied the Elliott Eave Theory, the former are what
Elliott termed "diagonal fifth waves." ... One final point to remember: The
pattern is only likely to reverse a minor trend. If you are hoping for a
major move, you must have more to go on."
Finally, he cites RW in uptrend as 100% profitable with a "small sample
size; not statistically significant" and in downtrend as 37.5% profitable
with no sample size disclaimer.
Earl
----- Original Message -----
From: "ketayun" <ketayun@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, April 29, 2003 12:25 PM
Subject: Re: [RT] Triangles
> Thanks a lot. Unfortunately none of the books I have described this
> situation.
>
> Kate
>
> JHP wrote:
>
> > Kate,
> >
> > Ascending triangle in downtrend and descending triangle in uptrend
> > forecast reversal.
> >
> > Jan Philipp
> >
> >
> > ----- Original Message -----
> > From: ketayun <mailto:ketayun@xxxxxxxxxxxxx>
> > To: realtraders <mailto:realtraders@xxxxxxxxxxxxxxx>
> > Sent: Tuesday, April 29, 2003 10:29 AM
> > Subject: [RT] Triangles
> >
> > How does an ascending triangle at the bottom of a down trend
> > resolve itself, usually? I am defining the triangle as having a
> > flat top and upward sloping side.
> >
> > Thank you,
> >
> > Kate
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > <mailto:realtraders-unsubscribe@xxxxxxxxxxxxxxx>
> >
> >
> >
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> > Service <http://docs.yahoo.com/info/terms/>.
> >
> >
> > Yahoo! Groups Sponsor
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----------------------------------------------------------------------------
----
> Thanks a lot. Unfortunately none of the books I have described this
situation.
>
> Kate
>
> JHP wrote:
>
> Kate,
>
> Ascending triangle in downtrend and descending triangle in uptrend
> forecast reversal.
>
> Jan Philipp
>
> ----- Original Message -----
> From: ketayun
> To: realtraders
> Sent: Tuesday, April 29, 2003 10:29 AM
> Subject: [RT] Triangles
>
>
> How does an ascending triangle at the bottom of a down trend resolve
itself, usually? I am defining the triangle as having a flat top and upward
sloping side.
>
> Thank you,
>
> Kate
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
>
>
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