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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Warthog who wrote (41748)12/10/2002 11:31:37 PM
From: Doug R  Read Replies (2) of 79173
 
Wart,

You have the ACT on 10/22 - 10/23 I'd say.
That would be correct. Good job.
My data shows a low on 10/23 of .54 with the ACT rising 2 cents/day over 32 trading days to reach 1.18 yesterday when it was severely tested.
The low yesterday of 1.07 was 9.3% below the ACT.
That shaves 9.3% from the RR.
The high after IL violation was 1.93. The % drop from there to 1.18 is 38.8%.
Less the 9.3% leaves an espected RR of 29.5%.
That yields a target of 1.52.

Doug R
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