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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Patrick Slevin who wrote (42237)12/15/2000 12:47:04 AM
From: SE  Read Replies (1) of 44573
 
Two differing scenarios today. I have from a study of the weekly patterns the following points. Low at 11:40, high at 13:35 and a low at 16:07. Those are the average times, but the patterns matched so well, that those times should be solid. The two dates were 8/27/99 and 8/28/98 and both were one way down patterns.

However, from a study of TH's action I also have 5/8/98 and 9/26/97. Both days were bullish, with one being a one way up and the other a V shaped day with a tail. The V shape being less bullish. The points were a High, Low, High formation and the average times 11:35, 14:17 and 15:12…but there was about a two hour variation in both.

The reason I mention the bullish scenario is that I see we are down about 8 points right now. On this cycle day if we had a true buy gap, as it appears we might tomorrow, the day generally turned out bullish. This means I am conflicted at this point.

I prefer the first set up for a one way down. The report tomorrow could likely negate any buy gap setting up the one way down nicely with a sell practically at the open for a nice ride. However, if the report sets us up for a buy gap, I would switch my thinking to look for the long side with the pattern times being less important than in the first one way down day. It appear to me a true buy gap would be closed.
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