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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (61649)	12/14/2002 4:20:52 AM
From: HairBall	Read Replies (3) of 209892

AA: I agree with you regarding this wedge, it is constructed incorrectly. However, you were wrong about the XAU and or HUI triangles you commented about a few days ago. And this comment "A rising wedge has to be born out of a reactionary low, not the high of a previous leg." is wrong as well. Rising wedge patterns should begin from the trend from which they form and they can form from both up trends and down trends. The initial or primary constraining trend line starts from a pivot point of the trend from which it begins. The secondary constraining trend line begins to form from a counter trend pivot point chronologically after the first pivot point of the primary trend line. Kevin Matras created some wonderful line illustrations that show how it is done... chartpatterns.com Regards, LG

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