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

To: AllansAlias who wrote (53304)	9/15/2002 6:34:10 PM
From: John Madarasz	Read Replies (1) \| Respond to of 209892

interesting the measurement of the non existent h/s is the same meas as the flag...before the flag was ever there.<g> how is it not a valid formation bro? ...because it's drawn under the 200dma? i think there are overiding factors that put it into play. That's a bullish formation drawn out of consolidation above the L/T uptrend line from 1995... and the ONLY reason i drew it in. I'm still maintaining that while the I/T trend is down, the L/T trend is still up until proven otherwise. That has to be respected, regardless of the fundamental picture. stockcharts.com It's a measurable pattern that is confirming a fib target around 78.6%. Whereas you might just consider this a bounce off strong support in a downtrend, which should be measured using a fib retrace #, i think the formation helps dial in the possibility of a I/T target... and is helping incorporate the read into an equities trading strategy. the Inv h/s is validation imo. of a target. lets see if the 50sdma serves as stronger support as it begins to curl up here. The $ could still consolidate in a sideways pattern, it's still in an almost 8 year uptrend until that bottom line gets taken out. regardless, the meas. remains the 112 area.