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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: GROUND ZERO™ who wrote (7773)11/3/1998 8:01:00 PM
From: Patrick Slevin  Read Replies (1) of 44573
 
<The price is attracted to the center line, but when it touches that line, the price is repelled and a violent market reaction typically occurs>

The range is what makes it hard to trade. It's fine for a trader such as yourself. Looking at the numbers I came up with it on the spreadsheet I think it's great for positioning.

I looked at it using 45 minute bars intraday.

At any point in the cycle....unless of course you were in the cycle from the start which means you are not a short term trader....it could bust the channel. Which is fair enough - it's just geared for a longer term trade.

I don't think it's real stable. If it goes outside the channel I would think theory would suggest it could come back or bust out. If it is inside the channel it can reverse or continue and the trader does not have a clue.

The only thing the trader can presume, is that it should stay in the channel and if it does not it may break out of it or it may return to the insde of the channel.

The trader never knows until a new fork is created or a new fork is not created.

Meanwhile, it gives a good clue to trend. Very useful as an indicator. It's a lot of work to use intraday for the resulting information, I think. As a daily indicator it doe's not seem to change very much with respect to market conditions and therefore lags too much at turning points.

Again though, if you are positioned all the way through a move I can see where it could be very successful.
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