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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Warthog who wrote (19557)7/18/1998 6:20:00 PM
From: Doug R  Read Replies (2) of 79297
 
Collin,

AILP:

The hitch is possibly there now. It needs to pull back a bit first before the trick can be complete. It's possible that a 2 day hitch is in the making. Any hitch that takes 3 days or more should be seen as suspect as the reliability of the signal on the trick is then lessened. A 2 day hitch could lead to a 2 day draw down (but not necessarily) before the signal.

So far it's setting up in the classic manner. Tuesday at the earliest if Monday is a down day. With a 2 day hitch and 2 day draw down, it would be Thursday at the earliest. Occasionally a bit of stalling between the bottom of the draw down and the signal line occurs. This happens more often on a 2 day hitch with a two day draw down. As it stands, you wouldn't even need to check the indicator to know where it is from here on out if it ends up as a classic trick. (but you should anyway until you have more practice with it) The indicator will do what the price does.

Doug R
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