Wedges, triangles, and stuff: Chart patterns for breakouts Message Board

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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts

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To: HeyRainier who wrote (51)	6/2/1997 5:44:00 AM
From: Mike Kehler	of 257

Rainier, I may be missing something which CHML, but I don't think the upper line to the triangle is very well defined (in both the symmetrical and ascending cases). To me it looks to have broken down from an upward channel when it made most recent low (about 8 trading days ago), and is now about to retest this [now broken] trendline. I think the volume pattern is bullish, but personally would wait for a close decisively above this line (e.g. good volume and across by 3% margin). A retest of the bottom trendline (when below it) would be very bearish as I understand it, and would think the opposite should be true if we are able to close above it. Of course I may be totally wrong... Don't have time to cover them in detail now, will try to later, but picked up on IGT and VSVR (amongst others) on the Thomas' (dppl) thread and think they are both worth a look... Mike

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