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

To: AllansAlias who wrote (44357)	7/3/2002 8:28:28 AM
From: Jack of All Trades	Read Replies (1) \| Respond to of 209892

I think we drive down to ES 922 or so and reverse on hard volume to make a nice hammer stick with a big volume bar. This should carry us into the fall IMO.

To: AllansAlias who wrote (44357)	7/3/2002 3:02:15 PM
From: skinowski	Respond to of 209892

Allan, sorry for the delayed response – just got back. I think H&S will or will not work out depending on where it is within the wave structure. For example, if the Left shoulder is the top of a ‘3’, and the Head consists of the ‘5’ of an end tale of move, when the trend is about to change, the H&S will “work out”. If, on the other hand, your ‘right shoulder’ is but the ‘B’ of a flat, and the previous trend is about to resume, the H&S will fail spectacularly. My point is, I guess, that counting waves may help a lot while playing classical TA patterns. If a person is a TA trader, it may be smart to learn to identify just where your pattern "sits" in the wave structure. As I write, it seems NY Tick is getting up there, close to a 1000. Will see how the pullback plays out.