timwest

IR - Ingersoll-Rand BEARISH RISING WEDGE

BATS:IR   Ingersoll Rand Inc
1
I decided yesterday to post this idea as a PAIRS trade against a long position in CAT, but IR was the inspiration for the trade in the first place.

I'd like to suggest that this is the proper way to draw regression channels as it is the only way that I have ever drawn them because it makes logical sense to me. The logic is that you diagram "uptrends" separate from "downtrends" and analyze them independently.

The "lowest close" is the simplest way to diagram. You can also use the lowest-low and have the regression use the lows for its calculations instead of the close.

Cheers.

Technical Tim, Wed, May 30, 2012 11:49AM EST

Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.