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Strategies & Market Trends : Classic TA Workplace
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To: jjstingray who wrote (89676)1/19/2004 4:26:44 PM
From: Shack  Read Replies (2) of 209892
 
There are numerous touches on the top and bottom of that wedge

So you're saying the entire move off the top is a wedge with numerous points of contacts? How can that possibly be when the daily chart shows nothing more than a clear 3 waves off that price high? Obviously you need more than 3 waves to make a wedge. The only wedge I see on the chart is the choppy mess since mid-December.

Now that everyone is on board, watch it tank hard. That would be funny

There's a good point in that comment. A reminder to the board that what we have on KKD here is an Elliott and TA set-up. The key being that there is an expected price behaviour which we need to see next for this read to be right. Until that wedge that I posted breaks to the upside, KKD remains nothing more than a potential long for me. And if it goes into that gap about which you are all talking, then my wedge read is wrong and I stay clear.
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