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

To: Petrol who wrote (65870)	2/10/2003 2:40:31 PM
From: At_The_Ask	Read Replies (1) \| Respond to of 209892

Not really. A wedge has three wave internals and consists of three waves in the primary direction and two countertrend moves. The third wave in the primary direction is often large enough that it looks like a complete pattern. The only tell is that when the pattern completes there should be a hard and fast move opposite the primary direction of the wedge. When this doesn't happen and the market makes only a shallow move counter to the wedge and then reverses to make a slightly higher high the trendlines of the wedge converge less sharply-"expansion". Sometimes what looks like a wedge isn't and you get a really big move in the direction of the wedge, this can and does happen so you have to be careful on how you play them. Look around my web page and you'll see a lot of different wedge pics with labels that might help you understand what I'm talking about.