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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (5412)	2/26/2005 4:39:10 PM
From: Gersh Avery	Read Replies (1) of 8752

How about this: LR channels show how the market was acting over the set of data. past tense. Say, for instance, 128 days on a daily bar chart. You may to wish that these lines project probable market action looking forward. However each new bar that you add to the chart changes the channel itself. Its width and degree of slope (edit : might) change with each change of data. The fork does not change. When the third point is selected, the slope and width of channel becomes fixed. I can look at it and say "This fork shows a up trend" or "down trend." It is expected that the fork will fail sometime in the future. Until it does, market action takes place within that channel defined by the fork. The fork projects forward until it fails.

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