Are not triangles usually wave 4 patterns ? I believe in the
past you have discussed that. Would the probabilities favor that it
should break to downside in continuation of downtrend ? Since clear
3 waves off the top . Are Triangles as bottoming pattern very
reliable to achieve target ? I undesrtand to follow price and
direction of break but trying to understand probabilities of
hitting pattern measurement since it would seem against trend.
dom4411 - the answer to you question regarding triangles is as
folows. Triangles are either wave 4's or B's but the SPX has YET to
complete such a pattern. Contracting trendlines alone are not
triangles so more evidence is required in this regard.
Are not triangles usually wave
Posted by dom4411 on 26th of Aug 2011 at 06:27 pm
Are not triangles usually wave 4 patterns ? I believe in the past you have discussed that. Would the probabilities favor that it should break to downside in continuation of downtrend ? Since clear 3 waves off the top . Are Triangles as bottoming pattern very reliable to achieve target ? I undesrtand to follow price and direction of break but trying to understand probabilities of hitting pattern measurement since it would seem against trend.
dom4411 - the answer to
Posted by steve on 28th of Aug 2011 at 02:33 pm
dom4411 - the answer to you question regarding triangles is as folows. Triangles are either wave 4's or B's but the SPX has YET to complete such a pattern. Contracting trendlines alone are not triangles so more evidence is required in this regard.
Interesting how copper completed a
Posted by steveo on 28th of Aug 2011 at 11:14 pm
Interesting how copper completed a big move down, perhaps a 123, and triangled into what would be a 4, and then melted up.
Copper held up better then
Posted by matt on 29th of Aug 2011 at 03:22 am
Copper held up better then the SPX so maybe the SPX needs to melt up to play some catch up
Thanks that is helpful .
Posted by dom4411 on 28th of Aug 2011 at 07:35 pm
Thanks that is helpful . Still learning.