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Strategies & Market Trends : Classic TA Workplace

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To: Win-Lose-Draw who wrote (128885)	2/2/2006 1:29:08 PM
From: Henry J Costanzo	Read Replies (1) of 209892

I see that BC has already given you a very creditable (as usual) response.. Just to add one thought which occurs to me on reading your post: << if it is broken, the most common thing I see happen is people redrawing it keeping the older point where it is. IE, they typically adjust the later, more recent point.>> What that statement may miss is that the more recent point only emerges after it becomes evident that the extreme of a new {minor recession} {minor advance} has been recorded. So the new more recent point does have some significance..... As BC indicates, there are some features of trend lines which affect their :"character/importance/durability"...A 3-point touch, as BC notes; length of time a line has been in effect; steepness of angle of ascent or descent....(some of the things I've touched on, for example in taking about AAPL and TIE lately)...

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