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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	3/10/2007 6:17:25 AM
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REVERSAL TRIANGLES stockcharts.com In many of my analysis I will mention reversal triangles. The triangles are formed by drawing a line across two peaks in a down trend and a horizontial line from a bottom that is between the two peaks. Where they form a point a trend reversal is likely on that day. This is accurate about 85% of the time with the other 15% producing an excelleration of the present trend. The exact opposite is used to layout an uptrend. Gaps and volitility throw off the projection point of the triangle and make them unreliable but there is a formulation to correct gaps and volitility when they occur. If the gap is outside the three points use to form the triangle the projection point is moved toward the triangle. If the gap is inside the three points used to form the triangle the projection point is moved away from the triangle. stockcharts.com

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