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Strategies & Market Trends : Chart Formations
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To: sean sanders who wrote (9)9/28/1997 6:37:00 PM
From: Chris   of 967
 
some brief comments:

here is my take on formations:

I think formations cannot be solely looked at, b/c no 2 formations are exactly alike. However, once you can define/spot the formation, it does make our "overall" analysis on where the stock is heading MUCH easier.

It's important to use other indicators to help you find entry/exit signals. one good example would be the ascending triangle as in the pacc graph..

geocities.com

prior to the breakout, you had an ascending traingle forming.
one would use indicators to verify that there would be an upside breakout from the ascending triangle...

one could see the trix (in graph 2) moving upwards in mid march as the tension increased (apex of the triangle).. Stochrsi 34 (cyan) was also bottoming out..

Price volume trend was also in positive territory and above the 40 moving average (red signal line)..

================
Again, this is only a chart formations thread. but it shows that you should use other indicators to paint the complete picture..

I would encourage all of you to join me at my stock attack thread where we discuss actual applications of indicators on stocks.

Subject 14043

Again.. sorry for the references to past charts. i had them in my website and also wanted to show the different formations.

Chris
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