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Strategies & Market Trends : Let's Talk Technical Analyisis (TA)
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To: Chris who wrote (58)11/24/2001 12:14:29 PM
From: Brandon  Read Replies (1) of 178
 
A 2B top or bottom pattern can give you a good trade near the top or bottom of a move. In his book "Trader Vic", Victor Sperandeo states that "In an uptrend, if a higher high is made but fails to carry through, and then the prices drop below the previous high, the trend is apt to reverse. The reverse holds true for an uptrend" This is taken directly from Trader Vic, Methods of a Wall Street Master. I have also found that, similarly, if a stock is in an uptrend and can not make a new high, then reverses and falls below the prior pivot low you can get a good short..though the Risk to Reward tends to be better with the 2B.

I have found both to work profitably. I like to use the 2b on hourly charts which will usually set up a trade that lasts between half a day and 2 1/2 days. The setup is over all pretty profitable, though its going to be wrong more than right and this gives some people a lot of problems with in themselves about the trade.

Brandon
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