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Old 03-23-2008, 08:41 PM
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Default Clarification

Hi David,

Thanks very much for providing all of this useful lectures. I am a finance student from hong kong. These stuffs are never taught in class in my school as the professors think that they are not useful while at the same time, most traders apply it frequently. I am reading the words and found a typo:

The Rising Wedge:

The rising wedge pattern is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When you find this pattern in an uptrend it is considered a reversal pattern as the contraction of the range indicates that the uptrend is loosing steam. When you find this pattern in a downtrend it is considered a bullish pattern as the market range becomes narrower into the correction indicating that it is running out of steam and the resumption of the downtrend is in the making.

"it is considered a bullish pattern"

should it be bearish as it's a continuation of a downtrend?

million thanks,
Matt
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