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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: booters who wrote (9098)	6/22/2000 10:10:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

boots, If I were aggressive, I would enter as soon as the breakout jumped back below the descending trendline. You do it because it "shouldn't happen". Even if I got whipped, the risk was minor. The important support for a symmetrical triangle is the apex which (surprise) went across 81 3/8. With my style I would have attempted a short as soon as that line broke. There was quite a battle at 81 3/8 when the breakout pulled back (see those 3 bars). After it broke, you had maybe 1 bar before that expansion bar down to 80 5/8. That bar told everyone that the pattern longs were screwed and they knew it. I've traded those little breakouts that work for a bar or two and then fail. You don't stick around when it doesn't go higher in a few bars and usually take a few ticks profit. These failures tend to give good gains because the folks on the other side haven't planned for the nasty outcome and get irrational. <I hope you spend some time on patterns and how to trade them> Thats basically 300 pages of it. I am as pattern crazy as you can get. Alan