ajtj99's Market Pulse

[plexxus]

>>>>While the pattern certainly looked bearish, the difference is in the anchoring of the trend lines. I hold to a strict set of anchor and plot rules with rare exception.

I use the bar extremes and I use software that has a "snap mode" which will not allow me to cheat even a little and it assures me of accurate anchoring. I plot each chart as if I am going to risk my money using it, because I usually am risking my money using it.>>>>

LG I certainly respect sticking to a discipline to what works best for you.

Going back to that SPX wedge there are times where I find anchor points as AJ suggested not as relevant as where price reverses as in this case. When I see price respecting a trendline as it did here on 4-5 reversals that tells me that there is some importance (perhaps more than what might be seen at an original anchor point). The particular draw seemed to workout per my expectation but that doesn't necessarily make it a "technically correct" draw. Yesterday price respected the lower trendline in the pattern on the backtest.

Thanks for sending the link in your last message.

Robb