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Strategies & Market Trends : Bottom (and Top) Pickers, Unite! -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (182)	1/23/2001 9:49:51 AM
From: Teresa Lo	Read Replies (2) \| Respond to of 214

"...Also, the upper purple trend line connects the highs near Nov. 6 and Dec. 11, but there appears to be a more recent peak near Jan. 2... why aren't the two most recent peaks used for the trend line? Thanks..." ispeculator.com It'a not going to be perfectly lined up each time, like in the textbook. Also, if I had done so, then people would ask why I sheared the December peak off with the pink line, right? The fundamental concept is that it's been consolidating, and that we should look for a place to get in IF it is going to go up. There might be other interpretations here too. If you take the two January highs and connect them, you can draw a horizontal line across to a third point in December at 1350 and make an ascending triangle. What I do is to look for a peak value in ADX, and begin my pattern from there. All the little pokes to the up and downside of the patterns are "traps" for those who play the trendline breakouts. Teresa P.S. The 1-2-3 zone should be a horizontal pair of lines that frame a test of top or bottom, if we are to apply them as Trader Vic does in his book.