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Strategies & Market Trends : Classic TA Workplace

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To: cybersaavy who wrote (73464)	5/11/2003 6:31:54 PM
From: skinowski	Read Replies (2) of 209892

"Phantom waves" is an interesting issue. It has been discussed on this thread, and, as I recall, they were thought to be controversial. Oniscka on occasion talks about "hidden waves", which is apparently the same thing. I think that, undoubtedly, some sort of psychological dynamics are playing out in the market during the after hours and overnight trading. Sometimes, when you look at the charts of after hours trading, you can see recognizable patterns, which seem to have meaning in the context of the "day" charts. The problem is with the relatively low volume and with the limited participation. One cannot utilize the overnight data for "regular" charting because its significance is not really known. I think that on occasion it can be usable in a subjective sort of a way, as help in guesstimating very short-term structures. One more argument against using the "hidden waves" is that in the end they are only wiggles, occurring overnight and on low volume. After but a few days they would really become irrelevant anyway.

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