ER2 charts
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Bruno, your comment is on point and spurred me to brush the dust off some old material. Here's an excerpt from an interview with Barbara Rockefeller published in a well know magazine:
Q: Are there any specific chart patterns you look for?
A: I was impressed when I read Tom Bulkowski?s Encyclopedia Of Chart Patterns. I knew instantly it was going to be a classic. I had read Robert Edwards and John Magee, but wasn't taken with the idea that patterns could be relied upon to make a trading decision. But Bulkowski proved that patterns can be reliable and he even quantified it, and I have come to think that some patterns are consistently more reliable than math based indicators, which - let's face it- usually work less than half the time.
I was ripe for conversion, so to speak, because if you look at charts long enough, you can't avoid seeing patterns. The first one I noticed was triangles and breakouts from triangles. --- and of course his work is on equities, a different market, which reinforces the idea that patterns are universally valid. Patterns work for the same reason math-based indicators work: They quantify what traders are thinking. I like candlesticks for the same reason, but I have less luck with them.
Q: Are there any specific chart patterns you look for?
A: I was impressed when I read Tom Bulkowski?s Encyclopedia Of Chart Patterns. I knew instantly it was going to be a classic. I had read Robert Edwards and John Magee, but wasn't taken with the idea that patterns could be relied upon to make a trading decision. But Bulkowski proved that patterns can be reliable and he even quantified it, and I have come to think that some patterns are consistently more reliable than math based indicators, which - let's face it- usually work less than half the time.
I was ripe for conversion, so to speak, because if you look at charts long enough, you can't avoid seeing patterns. The first one I noticed was triangles and breakouts from triangles. --- and of course his work is on equities, a different market, which reinforces the idea that patterns are universally valid. Patterns work for the same reason math-based indicators work: They quantify what traders are thinking. I like candlesticks for the same reason, but I have less luck with them.
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