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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Killswitch who wrote (14336)8/19/2002 11:43:22 PM
From: macavity  Respond to of 19219
 
Here is quite a good site for Butterflys and Reversals.

longorshort.com

Quite good explanation - basically it looks like something called harmonic-trading.

Turning pts are at meeting points of various leg fib retracement and extension levels.
As there are so many legs, retracement and extension levels to choose from then I suppose that you have to hit one of them sometime.

-macavity



To: Killswitch who wrote (14336)8/19/2002 11:45:49 PM
From: Killswitch  Read Replies (1) | Respond to of 19219
 
Is it just me or does the weekly crude oil futures chart look like it's formed a large inverse H&S? It appears to be right at the point of breaking the neckline. This pattern goes back to June 2001 by my reckoning. Target would be $41.


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