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: Magnatizer who wrote (70493)	3/31/2023 6:10:28 PM
From: Magnatizer	Read Replies (3) of 79434

Quarterly charts DJI edition Cross bar is the next one we'll see. Moving sideways into it. The history on the crosses in DJI quarter chart is interesting. Of note, we're talking a small sample size here. In every cross to date, the resulting horizontal range (cross bar high and low) has at least 1 re-test within 2 years. They tend to provide low risk long and/or short accumulation areas. Q2 2001: q3 86 Provided just one opportunity to buy at the bottom of the channel (the 87 mini crash) Q1 66 Marked a top after the move up from the 32 low. Held as resistance into the 1980s explosion north. This one would have been best played as a bear (as it marked a top from a run up) with several opportunities to enter low risk short positions Q1 55 Didn't stop the uptrend but did prove useful for a re-entry on the long side with a channel test in q3 57. Current chart Cross hitting with the chart in a similar structure to what we had during the 2001 cross.

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