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Relentless Despot

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Relentless Despot

Re: Ataglance2 post# 39021

Thursday, 07/01/2010 11:57:25 PM

Thursday, July 01, 2010 11:57:25 PM

Post# of 42555
Yes I am quite familiar with chart patterns.
One of the things I have noticed in Forex, as opposed to stocks, is that patterns are less common and often do not predict the same moves that they do in stocks.
I have seen more perfectly formed pennants signal reversals than continuations..
This is unheard of in stocks.
A pennant means keeps going up..
I've seen nicely formed.. not perfectly formed.. ascending triangles turn into reversals.

I don't deny what you're seeing but don't be surprised if it doesn't pan out how you see it.
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