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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Teresa Lo who wrote (25463)	9/10/1999 10:47:00 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

IS.Com: I have found triangles to be very reliable. Of course one needs to interpret the formation properly. Based on the many wrong interpretations I see on SI, I assume it is not easy. Of course, correctly interpreted chart formations are not 100% and some or more reliable than others. That is why I only use those I deem reliable. I never use formations as the "only" tool, but when supported with my other indicators they have proven to be very reliable as have support resistance price action areas and trend lines. (These are subjective and I often see them wrongly interpreted as well.) One last note, the negation of a reliable formation (not often) is usually at a significant pivot point. This can usually be spotted ahead of the break against the norm, by the use of additional indicators. Chart formations are graphic representations of investor behavior patterns. Regards, LG