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Strategies & Market Trends : Bottom (and Top) Pickers, Unite!
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To: Christopher who wrote (187)1/24/2001 2:03:34 PM
From: Teresa Lo   of 214
 
"...If a breakout to the upside of a chart pattern occurs and a pull back to the trendline happen after that, will you consider going long if the trendline held and ADX was going down? What if ADX was going down and is below 15 or 10; Would that change your mind?..."

First, we make sure that the buy stop is placed so that the market has to thrust up in order to get us long. This is how we hitch the ride vs. buying on a pullback, hoping that this is as far down as it goes. That is the first thing.

If ADX has been going down and is low, we know that there has been a decent consolidation, and this will eventually lead to a new trend. The buy stop would be entered in case this new trend emerges!

Teresa
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