MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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To: dennis michael patterson who wrote (38801)	2/1/2000 8:48:00 PM
From: HairBall	Read Replies (4) of 99985

dmp: Here you go. I have provided you three charts so you can see where the trend lines originated and how they progress. You should notice that previous resistance lines once broken become support. Now that the pattern has been made public I hope it does not loose its reliability...<g> My QChart CSCO Weekly Semi-Log Scale Chart marketdirectionanalysis.homestead.com My QChart CSCO Daily Semi-Log Scale Chart marketdirectionanalysis.homestead.com My QChart CSCO 60-Minute Semi-Log Scale Chart marketdirectionanalysis.homestead.com I had to compress the bars to get enough data on the screen so you could see the pattern. Let me throw in one more chart. My QChart QCOM 60-Minute Semi-Log Scale Chart marketdirectionanalysis.homestead.com NOTE: I use price action points to close, open and often to reverse a position, however I always have a stop loss pre planned as this strategy is not 100%. In addition, I always use my indicators in a contemporaneous manner to determine if I am going to take action at a given action point once the price actions reaches the point. ------------------------------------------------- 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. ------------------------------------------------- I hope this helps. Regards, LG-PHD...<g>

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