MPI (Metro Pacific Investment Corporation)

[harley]

hi sa inyong dalawa haha

[tarantrader]

Normally falling wedges come from an uptrend.

[IZEE]

hi sa inyong dalawa haha

ey pare hehehe

[sund3r]

greetings thread?

[betheone]

Hmmm, so falling wedges are continuation patterns, thus can be identified as momentary corrections for the general uptrend and thus is also called bullish wedges?

[IZEE]

Normally falling wedges come from an uptrend.

Hi Sir Bonner, curious to know what u think of the write-ups at stockcharts.com ? i'm not sure who teh exact author of those articles are but they state that the falling wedge as a reversal pattern requires the following: "Prior Trend: To qualify as a reversal pattern, there must be a prior trend to reverse. Ideally, the falling wedge will form after an extended downtrend and mark the final low. The pattern usually forms over a 3-6 month period and the preceding downtrend should be at least 3 months old" ..do u suggest we be more skeptical of such patterns since they're less common?

thanks Boss T!

[IZEE]

greetings thread?

pwede

[tarantrader]

Hmmm, so falling wedges are continuation patterns, thus can be identified as momentary corrections for the general uptrend and thus is also called bullish wedges?

That's right!

[tarantrader]

Hi Sir Bonner, curious to know what u think of the write-ups at stockcharts.com ? i'm not sure who teh exact author of those articles are but they state that the falling wedge as a reversal pattern requires the following: "Prior Trend: To qualify as a reversal pattern, there must be a prior trend to reverse. Ideally, the falling wedge will form after an extended downtrend and mark the final low. The pattern usually forms over a 3-6 month period and the preceding downtrend should be at least 3 months old" ..do u suggest we be more skeptical of such patterns since they're less common?

thanks Boss T!

stockcharts.com is from the author our "bible" Technical Analysis for the Financial Markets. That's John Murphy. In the same page you linked it did say, "falling wedges are regarded as bullish patterns" regardless if they are continuation or reversal. But to keep things simple, falling wedges are normally regarded as continuation patterns, NOT reversal patterns.

It's very hard to spot these wedges as reversal patterns, in this case a falling wedge coming from a downtrend. I've seen this only once and I've never seen this again.

[IZEE]

thanks Sir Bonner. i knew it was J.Murphy's website but wasn't sure if he was actually the one to write the actual article...anyway, i'm nitpicking

thanks for your clarification!