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Pictured here is the Ghost (courtesy Woodie's CCI Club). Notice the left shoulder (LS), the head (H), and the right shoulder (RS). A trendline is drawn from the swing high of the left shoulder through the swing high of the right shoulder. This is called the neckline. Notice the positive divergence between the CCI at the head (H) and the right shoulder (RH) and price. The Ghost is a trend reversal pattern that indicates a changing of the guard between the bulls and the bears. The entry is on a break of the trendline (TLB) and neckline, shown here in black, just above the -100 on the CCI. The entry is on a CCI cross of the neckline. [1/27/05]
Always use stops. Even the prettiest ghost setup can fail by an economic or geo-political event. Remember, every futures trade presents an opportunity for a gain OR a loss.
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Disclaimer:
THERE IS EQUAL OR GREATER POTENTIAL FOR LOSS WHILE USING THIS
STRATEGY. All information, graphs and depictions represented in
this site are OPINIONS and HYPOTHETICAL PERFORMANCE RESULTS and
should be recognized as such and are not solicitations or instructions
to execute orders. You shall be responsible for any decision to
purchase and/or sell any of the futures products depicted herein.
Although, the information herein demonstrates the potential for
profitable trades, the potential for loss is just as equal due
to unforeseen circumstances and changing market conditions. You
must also realize that the indicators and strategies may not work
in the future and can be used to your detriment. The amount of
profit demonstrated in my trades may be entirely different than
yours even if the trades were entered and exited at the same time.
Differences in commissions, fees, and internet connectivity can
drastically alter your performance in comparison to what is depicted
in the charts and could possibly result in a loss. |
