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Strategies & Market Trends : DAYTRADING Fundamentals

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To: wallstreeter who wrote (3027)	8/18/1999 1:24:00 PM
From: gladman	Read Replies (2) of 18137

EGRP short analysis: Take a look at a 5min candlestick chart with MACD, Stochastics & Williams%R. You shorted at 28 7/8 on a bearish candle with a long body, the MACD broke below the signal line... everything looks good for a short right? Unfortunately you shorted at EGRP's intraday support. Notice the next bar the %K starts to upturn(bullish when %K crosses above %D)a signal that the trend is reversing, additionally the candlestick is a Harami... a Harami next to a bearish candle is also another reversal sign. MACD still bearish. The next bar the %K touches %D - reversal strongly possible - the candlestick is a doji which is indecision, Williams%R reverses, MACD still bearish Move 2 bars ahead(10min) and %K crosses above %D(full reversal), MACD uptrending to signal line, bullish candle... price has fully reversed. I use MACD/Stochastics/Candlesticks/Williams%R for entries/exits... I don't catch the top/bottom but the general trend can be captured. Good luck, Dave

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