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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 25 4:00 PM EST

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To: HairBall who wrote (12978)	5/5/1999 10:39:00 PM
From: HairBall	Read Replies (4) of 99985

The Trader's Wheel: Hell's Triangle By Alan Farley, Contributor Tuesday, May 4, 1999 5:45pm ET The classic Descending Triangle illustrates the painful rollover from bull to bear market better than any other pattern. But why does it work with such deadly accuracy? Most traders don't understand how or why patterns predict outcomes. Some even believe these important tools rely on mysticism or convenient curve fitting. The simple truth is more powerful: congestion patterns in technical analysis reflect the impact of crowd psychology on changes in price and momentum. investorsalley.com For those interested in trading chart patterns, the rest of the above article is worth the read...trust me! Regards, LG

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