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Strategies & Market Trends : Technical Analysis With Charts

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To: Galirayo who wrote (6838)	10/23/2008 7:51:08 PM
From: MACD X	Read Replies (1) of 6865

Thanks for your reply stockcharts.com Your thoughts of the wave count and the construction of the down channel is possible and even likely, I have no idea of were the market is going only thoughts on charts. I use the tools on this site, many that I have created myself and you will see no where else on the internet. That being said they are speculative and unproven. I also have definite thought on the construction of channels. Many are not the thought of the main line chartist. Lining up all the dots is what everyone does and thus everyone should be right most of the time. But this isnt the case. Most are wrong most of the time. Many of my evaluations and thought are also wrong, show me a chartist that is never wrong and I will assure you he wont be post on chat sites such as this. My thoughts on channels are marked on the chart. It is my firm believe after viewing a few million charts that the bottom line of a down channel more times than not anchor on the first bottom backwards from the actual top. I have marked this on the chart. So my line of thinking is that if I know the actual bottom line then all than is nessasary to find the top line is to put another line thats at the same angle of the known bottom line for the top line. It is also my thoughts that the second top is more likely than not to be the first anchor for the top of the down channel. If this is the case the down channel is complete. There is another way to look at it from your point of view and that is to mark the known top line first by connecting the 2 know top line using the 2nd and 3rd top. This would make the angle of the downtrend more severe and more unlikely but it is possible. Then if we use this as the top channel line we could put another line for the bottom line that is of that same angle and you should know where the next bottom would likely be, and you theroy of another wave down becomes possilbe. There are many thoughts and theroys and is what this site is about. Anyone wanting to express there views of thoughts on the market please feel free to do so.

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