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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 7 4:00 PM EST

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To: dennis michael patterson who wrote (37008)	1/8/2000 8:08:00 AM
From: HairBall	Read Replies (2) of 99985

dmp: did we not cleanly break the downtrend on your Qcom chart? Yes, but note it was a short-term trend line. dmp and KM: Here was my strategy on the Q this time around. I usually do not post my trades and this is after the fact I know. However, it does show how I set my strategy up. All support/resistance areas are analyzed in unison with my indicators. I often use these support/resistance areas to initiate or close a position. It is often a good idea to leave a little on the table by initiating a little before the target. If the support/resistance line does not hold close any counter position ASAP to minimize your loss, but do allow for some overshoot. And, always use a stop loss, mental when possible and trailing when winning. QChart - QCOM 20-Minute Semi-Log Chart marketdirectionanalysis.homestead.com ------------------------------------------------- My QChart Trend Lines Green lines are resistance trend lines or resistance horizontal price action areas. Red lines are supportive trend lines or supportive horizontal price action areas. Gray lines are either resistance trend lines, resistance price action areas, supportive trend lines or supportive price action areas that have been broken. They can now act as either support or resistance depending on price action. Dark blue lines are formation lines. Light blue lines are previous formations. ------------------------------------------------- As Art Bell would say, there you are and there you have it...<g> Regards, LG

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