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Strategies & Market Trends : Classic TA Workplace
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To: ajtj99 who wrote (38517)5/8/2002 11:31:21 PM
From: AllansAlias  Read Replies (1) of 209892
 
* A wiggle post *

Personally, I am not deviating from the swing-trading plan, but I may be tempted back into my old wiggle-trading ways for a quickie. I see two opportunities in the wiggles, neither of which involves buying tomorrow if we gap-up and then fade to the gap:

1) If we gap up tomorrow, short it, wait for the first a-b-c, get out, and then enjoy the rest of the day doing something else.

2) If instead we fade, buy the dip at support that would be logical for this immediate move to continue -- this is the "buy the 4 of A" strategy.

At the next levels of wiggles, over the next days, if we trade down and there is the hint of fear that this will all melt away, a wiggle long is worth a shot -- this is the "buy the B" strategy.
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