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Re: Rustler post# 59582

Thursday, 05/06/2010 9:10:51 PM

Thursday, May 06, 2010 9:10:51 PM

Post# of 157004
Rustler, it looks as if
the chart you're critiquing has pricing grids in logarithmic style and as such looks quite different than your chart with its even or constant spacing. Logarithmic charts are often used and a favorite of some very good chart analysts. Personally I'm not a big fan of using logarithmic price scaling on short term charts but saying the 'other' chart's author is cheating seems inappropriate.

As far as triangles of importance a study of a 10-15 minute chart of the last two weeks reveals what will possibly be an ascending triangle that's currently in wave # 3. Often these triangle patterns go 5 waves and break in the direction of the pattern's 2nd wave. If this triangle formation continues to form waves #4 & #5 in typical fashion it'll break to the upside after wave #5 is completed.
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