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Strategies & Market Trends : Classic TA Workplace
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To: skinowski who wrote (7741)7/22/2001 5:35:54 PM
From: velociraptor_  Read Replies (2) of 209892
 
There is one other caveat to that line of thinking....The question is not necessarily whether everyone sees that wedge, but whether everyone is prepared for it. Given that everyone sees that bullish wedge, if no one is positioned for it, once it breaks, there will be a rush of buying as everyone will see it as a breakout point and the buying and short covering will give us the nice rally. On the other hand, if everyone sees it AND they are also already positioned for it, there won't be as many buyers left and the rally will be a small one and a headfake if it breaks, or worse yet, it could just fail and break down as there are no buyers left.

So.....OK, everyone sees that pattern and expects the break for up. Are they already in or not? That's the key. Such a conundrum to be in.
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