The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Esteban who wrote (10208)	1/8/1998 10:48:00 AM
From: ivan solotaroff	Read Replies (1) of 79230

Esteban: Weathered out a scare up to 1/4, largely because of a long meditation I did on the five-day rise: OXHP began a steep ascent, which was broken temporarily, after which it began to ascend again. On the downside, where I caught it, there was a steep descent. The last three hours of trading broke that steep descent, but--and this is the point--it mirrors the break in the ascent very closely. One thing I learned from the seminar is that if you can essentially fold a piece of paper in half and get the mirror image, you're in the catbird seat. (or the dead-catbird seat, as the case may be.) That made it easier (phew) to sit out the break, which is now currently giving way to a continuation of a steep descent. If nothing else, today's high gives me a second point to draw a downtrend line from. It's not as instant a gratification as a 24-hour killing, but it's damn quick. Looks like 15 1/2 or so by week's end.

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