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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (15763)	2/17/1999 9:30:00 PM
From: Bull RidaH	Respond to of 44573

I2, To calculate the break target of a symmetrical triangle, just measure the base of the triangle, and add/subtract that amount from the breakout point of the triangle. In this case, the base began last Thursday at the late day high (1253.97). The base ended on friday's late day low of 1225.67. So the base is 28.30 points in size, subtracted from the break point today of 1236, and you get your target. One important item to note about this pattern is that you have a minor target which is 1/2 the distance from the break point to the main target, or in this case, around 1221.85. In 30% of the cases I've observed, this minor target holds and reverses the market in the other direction, something to think about considering the bounce we saw off that area when hit late today. Regards, David