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Strategies & Market Trends : Classic TA Workplace
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To: HairBall who wrote (61653)12/14/2002 7:36:03 AM
From: AllansAlias  Read Replies (1) of 209892
 
First of all, let me say that I am wrong about as often as anyone else. One gets used to it. Being wrong is not expensive, it's the being stubborn that hurts.

However, I do not believe I was wrong in these cases. The HUI breakout is not the result of a triangle imo. As I said "Gold may well move up from here, but not based on any triangle". As a couple of people here who frequent another board can attest, I recommended buying the break in gold from the low in late November. This analysis was not based on any triangle.

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.

Here I think you just misunderstand what I am saying. I only mean that it begins, i.e., is born, at the reactionary low after the high of the previous move. In other words, the high of the previous move is not part of it.
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