AI
Sunday, January 19, 2003 4:56:05 PM
I think the ascending triangle is plausible, (but, like you, I don't like all that extra white space.)
LG says, (and I hope I'm citing him correctly on this), that one formation will often morph into another but they usually stay with the same theme, i.e., bullish, bearish, etc. So it's possible, I think, that a symmetrical triangle which breaks upward, (thus demonstrating its bullishness), could then go through a period of consolidation which then morphs it into an ascending triangle.
On the other hand, you should keep in mind that there is a pretty strong (potentially) bearish case for both the xau and the hui. I say potentially because while I'm pretty sure the xau is a rising wedge, the hui looks like a simple up channel, which may be a giant bear flag, or just an up channel.
MDA Thread #board-1320
Turnips Thread #board-1125
Trading Info #board-1220
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LG says, (and I hope I'm citing him correctly on this), that one formation will often morph into another but they usually stay with the same theme, i.e., bullish, bearish, etc. So it's possible, I think, that a symmetrical triangle which breaks upward, (thus demonstrating its bullishness), could then go through a period of consolidation which then morphs it into an ascending triangle.
On the other hand, you should keep in mind that there is a pretty strong (potentially) bearish case for both the xau and the hui. I say potentially because while I'm pretty sure the xau is a rising wedge, the hui looks like a simple up channel, which may be a giant bear flag, or just an up channel.
MDA Thread #board-1320
Turnips Thread #board-1125
Trading Info #board-1220
Like my charts? Join StockCharts! http://www.stockcharts.com
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