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Strategies & Market Trends : Charts for Quick CASH $$$

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To: Galirayo who wrote (5297)	12/5/1997 12:51:00 PM
From: Eakole	Read Replies (1) of 9262

Hi Ray, Thanks for your input. Regarding Rainiers suggestion about A Triangles < that a good way to play these is to place a buy limit order at or near the Apex of the Triangle to catch it on the way up as it breaks out. > . . . .is a prudent approach to this manner of pattern. Another is to buy AFTER the BREAKOUT and during the PULL BACK, to what WAS the RESISTANCE and now IS the SUPPORT. A VALID breakout would be 3% or more. The PULLBACK may or may not touch the SUPPORT before it resumes its previous direction. Generally, PULLBACKs are dependable and are to be anticipated. This would be easy to check. The same strategy would be considered as appropriate for other patterns such as Descending Triangles. Needless to say, it would be judicious to place a protective STOP when a BUY is made. Best Wishes, Eakole

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