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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (5337)	8/4/1998 7:39:00 AM
From: Ben Antanaitis	Respond to of 34811

chartseer, Q: If you only have a 20 box column of O's, how do you know that there isn't a 21st O in store for you instead of a reversal? It would seem to me that you have to wait for the price to rise sufficiently to get those initial 3 X's to know that buyers have stepped in. The 3 box 'reversal fee' helps ensure that an 'oops' isn't in the making. In both Burke's and Aby's books, they indicate the formation of the pattern by pointing at the 3rd X of the reversal. I read into that that this is the point it had to reach to confirm the formation of the pattern. I suppose that this goes into the class of don't second guess, or anticipate, the pattern under formation situations. Ben A. ez-pnf.com