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Strategies & Market Trends : LastShadow's Position Trading
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To: Dave Shares who wrote (304)9/11/1998
From: LastShadow   of 43080
 
Orcl

trendline looks to be low of last Friday and todayu's open, which was the low based on end of day charts - that means tomorrow needs to stay above about 21.25 to still be trending up - if you are using end of day charts that is.

Trendlining intraday is a whole different, and completely black art. Basically is connected from about the close on 8/3 to the low at about 3 pm on 9/8 - for which the trendline was violated around 3:00 on 9/9 . It downtrending from that point until about 10 am this morning, went horizontal for the rest ofthe day until an uptick at the end - which to me at least wasn't a buy signal - this one goes up and down in sharp spikes, and not worth the aggravation to try to figure it out.

Now, don't anyone take whatI just 'spl;ained about intraday charting and go apply it broadly - its easierto look at something like DIS (still going down btw) and try intraday threndlingin on that to get the feel for that and GAP methods. But, paper trade them first.

lastshadow
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