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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: John Madarasz who wrote (44337)	7/2/2002 11:08:34 PM
From: augieboo	Read Replies (3) \| Respond to of 209892

According to Bulkowski's Encyclopedia of Chart Patterns, an H&S formation should have a 93% success rate without waiting for confirmation. He says once you are sure it's an H&S, and the right shoulder has formed, go ahead and short that beast. (p.301) I think Farley's point about needing to be sure to avoid the herd even when using "tried and true" TA methods is valid in any case, but, if you are correct that H&S patterns have not been working correctly for some time now, (as opposed to be delusional from over-taxing your brain with wave counts and such), then Farley's argument gains even more horse power, IMHO. Incidentally, this would also would show that certain people really should read certain books, even if they find it necessary to rip the bindings apart and staple them back together in magazine-sized pseudo-pamphlets suitable for reading on the toity. <<<GGG>>>