Forum Archive Index - July 2002

["Kiwi" <Kiwi@Pitstock.com>]

Andrew
Your example of a bear flag is very good. Like trend lines they come in many
shapes and sizes and are subject to viewers discretion. CLI is not a perfect
example. My view of a bear flag is a mid term down trend followed by a
consolidation. The consolidation needs to "hug" the trend support line to
make it better quality. A gap through the trend line gives the break of the
bear flag more power. This is just my personal opinion.

Here is an example of the cleaneast bear flag I have ever found in real
time.
http://www.pitstock.com/school/patterns/flag_bear_sanm.gif

As for the automatic trend lines, thats pretty hard to explain. I spent many
months designing a formula that may be able to help spot chart patterns at a
later date (using my auto trend lines). I have back tested a lot of
indicators like moving averages, RSI , Stochastics and more. The results
proved to me they are pretty much worthless. Chart patterns have and are my
passion.

Kiwi


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