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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (3263)	3/17/2001 9:58:34 AM
From: Trading Machine	Respond to of 52237

Yep, now I found it, my point of confusion (which is normal gg) was that Morris "Candlestick Charting Explained" calls your "shooting star" a "Doji Star" and indeed it is a two day pattern with "confirmation suggested." Morris explains that the third day is the confirmation day (obviously), and in this case if Monday gaps up and is an up day the resulting pattern will be a "Morning Star" which is a bullish reversal pattern. Since by definition the trend has reversed if the third day is up and forms the pattern no confirmation is required. I guess this is obvious. gg The only qualms I have with this is that I have a downtrend line that has been in place since 1/31 which on Monday will be at NDX 1668. We could theoretically gap up from the opening value on Friday (NDX 1656) and be below the downtrend line. This does not seem likely in a "normal" trading environment, but Monday being the day before The day I am suspicious that things will tend to "meander" on Monday and not be very definitive, analogous to your short term technicals being in their mid-range. I am now clearer on pattern recognition, thanks. Lets hope Monday is not a shooting-crud pattern. ggg barf When I draw the lower trend support line and extend the time element, the next support point I show is at 1440. So if we do get a shooting-crud...... I guess I wouldn't know an uptrend if I saw one. ggg Paul K.