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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (27186)	7/9/1999 8:53:00 AM
From: F Robert Simms	Read Replies (1) \| Respond to of 44573

If you take an expanding triangle pattern and find the first inside turn then that would be pt 1. Look at the Dow with a 60 min chart. the last peak yesterday was pt 5 and the previous low was pt 4. The earlier high, which was less then pt 5 was pt 3 and the previous low which was greater than pt 4 was pt 2 and then you get pt 1 which was less then the pt 3 high. Pt 4's in the direction of the trend are a very high probability purchase to go to pt 5. Best Wishes, Bob EDIT: You can also buy when prices are falling on this type pf buy and sell when prices are rising. fwiw