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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (12992)	5/5/1999 11:32:00 PM
From: HairBall	Respond to of 99985

bobby beara: I was mainly interested in the way he described the psychology of the pattern. I personally do not consider the descending triangle a high percentage play as a reversal formation. PS: Declining Wedges or Falling Wedges...they are bullish formations! Regards, LG

To: bobby beara who wrote (12992)	5/6/1999 4:09:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 99985

BB, Descending triangles have a strong tendency to fail, symmetrical triangles are 50-50 and ascending triangles have a strong tendency to break on the upside. The break below 28 on SEEK (violation of the triangle) would have provided an excellent short sale with a 25%, 3 day decline. you also had the clue of the development of the Adam and Eve double top, specifically the round Eve second top that led to the break. Did you ever read my article on 5 wave declines? You can find it at: hardrightedge.com Alan Farley editor/publisher The Hard Right Edge hardrightedge.com