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	Comments on: QQQ Backtesting Wedge, SPY Alternative TL now Primary	</title>
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	<description>Stock Trading, Investing &#38; Market Analysis</description>
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		<title>
		By: rsotc		</title>
		<link>https://rightsideofthechart.com/qqq-backtesting-wedge-spy-alternative-tl-now-primary/#comment-2043</link>

		<dc:creator><![CDATA[rsotc]]></dc:creator>
		<pubDate>Thu, 14 Jul 2016 21:06:54 +0000</pubDate>
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					<description><![CDATA[In reply to &lt;a href=&quot;https://rightsideofthechart.com/qqq-backtesting-wedge-spy-alternative-tl-now-primary/#comment-2033&quot;&gt;lee1&lt;/a&gt;.

Nothing in TA works 100% of the time but even then, the vast major of the wedges (confirmed with divergence) play out, even if for a smaller than expected move. The most important thing with wedges confirmed by divergences, is that the expected move following the breakout of the wedge is typically commensurate with the time frame of the chart that the wedge developed on. E.g.- A breakout of a 5-minute wedge pattern is usually good for a move lasting a day or so while a weekly wedge pattern will typically trigger a primary trend change lasting for months.

The most recent wedges that I posted on SPY &#038; QQQ were 30 minute wedges with relatively shallow pullback targets although if they do play out, that could have larger implications going out to the daily charts. The next few sessions should tell us if they are going to play out or not.]]></description>
			<content:encoded><![CDATA[<p>In reply to <a href="https://rightsideofthechart.com/qqq-backtesting-wedge-spy-alternative-tl-now-primary/#comment-2033">lee1</a>.</p>
<p>Nothing in TA works 100% of the time but even then, the vast major of the wedges (confirmed with divergence) play out, even if for a smaller than expected move. The most important thing with wedges confirmed by divergences, is that the expected move following the breakout of the wedge is typically commensurate with the time frame of the chart that the wedge developed on. E.g.- A breakout of a 5-minute wedge pattern is usually good for a move lasting a day or so while a weekly wedge pattern will typically trigger a primary trend change lasting for months.</p>
<p>The most recent wedges that I posted on SPY &amp; QQQ were 30 minute wedges with relatively shallow pullback targets although if they do play out, that could have larger implications going out to the daily charts. The next few sessions should tell us if they are going to play out or not.</p>
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		<title>
		By: lee1		</title>
		<link>https://rightsideofthechart.com/qqq-backtesting-wedge-spy-alternative-tl-now-primary/#comment-2033</link>

		<dc:creator><![CDATA[lee1]]></dc:creator>
		<pubDate>Thu, 14 Jul 2016 18:46:28 +0000</pubDate>
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					<description><![CDATA[You have  pointed out many wedges and divergences for a long time now yet the market has just gone higher and higher so not sure how valid these wedges/divergences are for helping to time the overall market.]]></description>
			<content:encoded><![CDATA[<p>You have  pointed out many wedges and divergences for a long time now yet the market has just gone higher and higher so not sure how valid these wedges/divergences are for helping to time the overall market.</p>
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		<title>
		By: dan123		</title>
		<link>https://rightsideofthechart.com/qqq-backtesting-wedge-spy-alternative-tl-now-primary/#comment-2028</link>

		<dc:creator><![CDATA[dan123]]></dc:creator>
		<pubDate>Thu, 14 Jul 2016 14:20:11 +0000</pubDate>
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					<description><![CDATA[Thanks for updates, good stuff]]></description>
			<content:encoded><![CDATA[<p>Thanks for updates, good stuff</p>
]]></content:encoded>
		
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		<item>
		<title>
		By: snp		</title>
		<link>https://rightsideofthechart.com/qqq-backtesting-wedge-spy-alternative-tl-now-primary/#comment-2027</link>

		<dc:creator><![CDATA[snp]]></dc:creator>
		<pubDate>Thu, 14 Jul 2016 14:00:12 +0000</pubDate>
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					<description><![CDATA[agree with wedge lines now.  the blue spy line was, well, substance induced?  (sarc)]]></description>
			<content:encoded><![CDATA[<p>agree with wedge lines now.  the blue spy line was, well, substance induced?  (sarc)</p>
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