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

To: OX who wrote (41663)	12/1/2000 6:40:48 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

No, it's pretty much mental observation. Unlike Elect's presumption, this is not something purchased from anywhere. It's just a educated observation of how the market traded on any given day. It may have moved from early Lows to late Highs or the reverse; that is it may have moved from early Highs to late Lows..... So one identifies the pattern that way. It is human intervention, not software at all. Then you build a database keyed on how precedents worked out and you try to guess how the market may trade given the parameters that exist now and parameters that existed prior. It's really not a whole lot different than some idiot savant postulating that there is a trendline here, and a Head and Shoulders Top there, It's just another manner of trading it.