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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Ms. X who wrote (5235)1/21/2000 11:05:00 PM
From: Patrick Slevin  Read Replies (2) of 9427
 
<This is why time isn't a factor either.>

Incredibly interesting. Because I know people who traded on the floor before Tom D. was in the business, and they say Time isn't a factor either.

So then, why is PnF delineated in days? Aren't days a factor of Time?

Not only that, but these people point to ChartCraft as their source. They say the concept of PnF in terms of Time does not exist.

So you just said it does not exist, yes? Then why does DWA allocate PnF in terms of days?

This is a serious question for me. A well considered answer would be nice. One thing that always bothered me is the fact that people don't trade PnF on the Floor while looking at their watch nor at a calendar.

If you cannot answer this question don't worry about it, as I've been struggling with it for several years. In simple terms, you say PnF is not Time Delineated. Yet DWA says it is delineated in Days...Days are Time oriented......

If DWA is charting stocks in terms of days then that is Time. Classical PnF is not restricted by Time. So what is your view?

I won't argue it one way or the other, I would just like to know what the official position is.

Sorry to get so pedantic about this, but I've been looking at PnF since perhaps 1994. I would like to get this Time Element straight.
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