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A few viewers ask what the long-term chart of the Dow looks like. Currently the Dow is testing a level that was key back in 1999 and 2008 as well.
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CLICK ON CHART TO ENLARGE
A few viewers ask what the long-term chart of the Dow looks like. Currently the Dow is testing a level that was key back in 1999 and 2008 as well.
Nemo….Great question….anything is possible, yet not an ideal pattern. Per the H&S pattern being at hand, you want the right and left shoulder to be about the same distance in time from the head. Would be odd to see the left shoulder 7 years from the head and the right shoulder around half that distance in 4 years.
Warren… Use trailing stops? Unless a support line becomes a hard stop, establishing a certain price point, Yes I do use trailing stops. One is ALWAYS in place. I don’t mind being wrong, I do mind being wrong for very long! Most platforms allow trailing stops, based upon a certain percentage you personally establish.
Chris,
Do you actually use Trailing Stops?
How would you calculate them at these levels for various issues?
(Do you use some formula based on ATR? I would love to know what you advise.)
Thanks!
What are the odds that 2000 represents a left shoulder, 2007 a head, and 2011 a right shoulder?