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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: Mark[ox5] who wrote (3393)	12/14/1997 9:17:00 PM
From: TATRADER	Read Replies (1) \| Respond to of 7396

Mark, you need to look at the chart to see what I am talking about.... MAVK if you notice, looks like a mountain peak, with a lower peak on the right and a lower peak on the left....These lower peaks are called shoulders...The big peak is called the head...Now you measure the price from the top of the big peak to the neckline....The neckline is a horizontal line drawn under the base of the little peaks...Now do you see where I get 15.....On downside breakouts I have found this measurement is fairly accurate on giving a downside target....On the upside there always seems to be more momentum, so you have to use a Fibonaccci ratio of 1.62, 2.618, and multiply by the difference....If I am confusing you, just buy the book Technical Analysis of Stock Trends by Edwards and Magee....Regards, Mark