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I gathered that parabolic wedge is one where the slope of the wedge increases. I am seeing quite a few examples that dont fit this criteria. I am trying to figure out what the right definition is.
Can you help me understand this more clearly?
Here is an example from Encyclopedia of chart patterns which is marked as a Parabolic wedge but the slope does not increase:
Hi all
Al usually says that we should not enter short, if there are body gaps that favor the bulls, but also says that a parabolic wedge top is a good short.
However most of the times a parabolic wedge top, has gaps that favor the bulls and most of the times when we see a parabolic wedge top we are in an small pullback bull trend, so ... seems a bit contradicting. Can you clarify how can we filter when to enter and when not?
Thanks.
Mr. Carpet,
Thank you so much for clarifying and pointing out the video for me. I could not have asked for a better clarification on this!
Where have all Mr Carpet's helpful comments and responses gone? I'm guessing he's deleted his account for whatever reason but it's a real shame as I've found his posts very useful.
