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Strategies & Market Trends : Classic TA Workplace
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To: Shack who wrote (129694)2/17/2006 9:55:37 AM
From: Perspective  Read Replies (1) of 209892
 
Of course, when the pattern is *expected* to have such a break because it happens so often, the "hound" may actually be if the break, upon subsequent backtesting, fails. <g>

We have the break of this bearish rising wedge, now a backtest, but the rebound from the backtest has come on substantially weaker volume, and that has me suspicious. Of course for trading, the only line in the sand that one can use is the wedgeline itself, so you'd probably go long the breakout, and hang in there so long as the backtest doesn't fail.

BC
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