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

To: John Pitera who wrote (62629)	11/16/2000 12:07:25 PM
From: Death Sphincter	Read Replies (1) \| Respond to of 99985

interesting you were at CMB...i was at CBOT in 75-77. as grunt i had to hand chart for boss. how tedious. those guys used everything from tea leaves to astrology and of course conventional TA...we came across Prechter back then and looked into waves, but so hard to do by hand. advent of internet etc. with charts is Godsend. He was mindblowing with pick of 2700 to occur in Autumn of 1987 10 years in advance. I think you have to have a certain type of deductive mental process to absorb all the possibilities and see this stuff forming or being killed....like 3 steps ahead in either direction. can get you twisted carl

To: John Pitera who wrote (62629)	11/16/2000 12:35:09 PM
From: Death Sphincter	Read Replies (1) \| Respond to of 99985

my theory on why some H&S work and others don't. I try to combine traditional TA stuff, like wedges,triangles,trendlines, MA etc. with Ewave counts. often people see H&S,H&S,H&S!!!!! but it fails. my idea is that H&S succeed when they occur within a certain Ewave pattern. Most likely success of H&S is when it occurs AFTER a terminal 5 wave pattern. After a 5er you will often see a retrace back to the 4th wave area of that 5er. in a H&S this becomes the neckline. The successful H&S takes on a big ABC pattern...with internal count of 5-3-5...A=5 waves B=3waves...C=5waves. If the 5er is NOT a terminal wave movement, then the supposed H&S stops at previous 4th...then continues movement in original direction of the 5er. Here is a possible inverted H&S on the NAZ badsmells.homestead.com smelz