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Strategies & Market Trends : E-Mini Pit -- Ignore unavailable to you. Want to Upgrade?

To: Killswitch who wrote (5479)	8/19/2002 10:50:35 PM
From: the-phoenix	Read Replies (2) \| Respond to of 11288

I would say that normally the initial target would be the lows of the last leg (or the 1200 area, in this case), with a good chance of taking out the pattern lows and then some. But because this pattern is showing up at the bottom of a chart versus at the top, it may not have that kind of power. My initial target for this would be a retest of the 20 day moving averages, and then go from there. BTW- The pattern is still valid even if we go above 1400, as long as we don't break the pattern high at 1426. I probably shouldn't plan to short this until I see a reversal somewhere between 1395-1425.