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Strategies & Market Trends : DAYTRADING Fundamentals
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To: TraderAlan who wrote (3948)9/15/1999 3:58:00 AM
From: Teresa Lo  Read Replies (1) of 18137
 
One way to solve the whole problem of patterns vs. indicators is this, on the assumption that price leads all:

1. Get rid of all the indicators except for a couple of useful ones, like a moving average and perhaps ADX, or something that the trader knows how to use after much experience, preferably trend indicators.

2. When we see patterns, such as triangles, wedges and head and shoulders, we look only for the failed ones where we know loads of others are trapped...

And concentrate on things that people aren't good at, such as volume analysis, tests of tops/bottoms and retracements (dips/bounces) - which seem to elude most. Add support and resistance, and ka-ching, the $$ comes flying out of the chart and into one's account.

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