MPI (Metro Pacific Investment Corporation)

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Re: MPI (Metro Pacific Investment Corporation)

Postby harley » Wed Mar 03, 2010 10:36 pm

hi sa inyong dalawa haha :)
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Re: MPI (Metro Pacific Investment Corporation)

Postby tarantrader » Thu Mar 04, 2010 8:41 am

Normally falling wedges come from an uptrend.
People tend to lie, the chart doesn't.
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Re: MPI (Metro Pacific Investment Corporation)

Postby IZEE » Thu Mar 04, 2010 9:36 am

harley wrote:hi sa inyong dalawa haha :)

ey pare hehehe :D
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Re: MPI (Metro Pacific Investment Corporation)

Postby sund3r » Thu Mar 04, 2010 10:05 am

greetings thread? :lol:
~
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Re: MPI (Metro Pacific Investment Corporation)

Postby betheone » Thu Mar 04, 2010 5:04 pm

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?
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Re: MPI (Metro Pacific Investment Corporation)

Postby IZEE » Thu Mar 04, 2010 5:21 pm

tarantrader wrote: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! :)
“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” -- William O’Neil
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Re: MPI (Metro Pacific Investment Corporation)

Postby IZEE » Thu Mar 04, 2010 5:22 pm

sund3r wrote:greetings thread? :lol:

pwede :lol:
“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” -- William O’Neil
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Re: MPI (Metro Pacific Investment Corporation)

Postby tarantrader » Thu Mar 04, 2010 5:34 pm

betheone wrote: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!
People tend to lie, the chart doesn't.
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Re: MPI (Metro Pacific Investment Corporation)

Postby tarantrader » Thu Mar 04, 2010 5:39 pm

IZEE wrote: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.
People tend to lie, the chart doesn't.
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Re: MPI (Metro Pacific Investment Corporation)

Postby IZEE » Thu Mar 04, 2010 6:04 pm

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 :lol:

thanks for your clarification! :D
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