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

To: Michael Watkins who wrote (40662)	2/13/2000 10:44:00 AM
From: Patrick Slevin	Respond to of 44573

Yeah, but that's not what I was driving at. I keep a Channel that has as it's centerpoint the trend line from 1998. The Channel has it's high band (today) at about 1685 and it's low band at about 1383. See what I'm looking at? The way the channel is set up a violation of a dozen points or so is not a major issue, and a Buy Signal off such a Low can be powerful. If you see the Channel it was violated on Jan 31 and the ensuing Rally picked up a total of 94 points from Low to High. The actual Centerline hasn't been violated to the upside. If the market recovers and goes through that centerline it could be quite a move (provided the existing Channel does not break down, of course). I think this channel would be similar to one of Doctor Andrew's Pitchforks using P1 as 7/19/99 and P2 as 10/18/99 P0/P5 would be 10/8/98