AI
Sunday, March 14, 2004 5:52:25 PM
Hi skatchmo,
I thought that post was a great piece of analysis given the way you broke the problem down into three different techniques like that. In order to explore this idea some more, I hope you don't mind if I play devil's advocate for a minute.
You said that a break above a new high is not as subjective as a triangle, because everyone can agree on a horizontal line. Take a look at the chart below. Where is the horizontal line? Is it at 2.86, 2.95 or 3.28?
Now look at the chart below it. On that one, the triangle at the top of that big rise is fairly well defined, but the new high could either be at 3.38 or 3.64.
I thought that post was a great piece of analysis given the way you broke the problem down into three different techniques like that. In order to explore this idea some more, I hope you don't mind if I play devil's advocate for a minute.
You said that a break above a new high is not as subjective as a triangle, because everyone can agree on a horizontal line. Take a look at the chart below. Where is the horizontal line? Is it at 2.86, 2.95 or 3.28?
Now look at the chart below it. On that one, the triangle at the top of that big rise is fairly well defined, but the new high could either be at 3.38 or 3.64.
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