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


To: HairBall who wrote (28925)10/9/1999 2:24:00 PM
From: HairBall  Respond to of 99985
 
To All: The post I am responding to, the chart originally linked was not semi-log. I accidentally clicked off semi-log before I copied it to post on the internet. I have corrected the chart, so if you have already viewed it, be sure and hit refresh the next time you take a look. Semi-log charts are different and it does effect the trend line projections and the formations.

Regards,
LG



To: HairBall who wrote (28925)10/9/1999 6:14:00 PM
From: Casaubon  Read Replies (1) | Respond to of 99985
 
LG,

Could I impose on you to draw the neckline (or comment on its placement)? Also, when you draw a neckline on a head and shoulders pattern, do you start that trendline from the left most part of the left shoulder, or the right most part of the left shoulder?

As I interpret your chart, it seems a small bearish triangle developed which was broken to the downside, however, the neckline (not shown) has yet to fail. The neckline would correspond to ascending support just above the horizontal support line you drew. Can you make any comments about how to determine whether a neckline will fail as a support line or hold.