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Strategies & Market Trends : MDA - Market Direction Analysis

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To: HairBall who wrote (62453)	11/15/2000 1:15:03 AM
From: Smooth Drive	Read Replies (1) of 99985

Hello LG, No, not zigzag. The basics I took from Robert Krausz when he first described his new Gann Swing charts and lines in TAofS&C store.yahoo.com Right now I'm maintaining three styles of swingline charts and back testing by hand. I'm using the method he teaches and two bastard children. But -- they all read the same. The weekly chart sets the major trend of a stock of index. The daily is used for actual buying and selling within the major trend. A chart is in positive trend when a peak surpasses the previous peak and negative trend when a valley surpasses the previous valley. I change colors to better see it. One of the things I like about using swing lines is channel construction is very easy. Channel breaks often come a few days (or weeks) before a trend change. For me it's a great tool because it provides three major areas to either buy or short. Sort of the best of all worlds in a pullback swing style and a breakout style. For instance, you can can go long when the trend is postive and 1) you reverse up from a valley (and the close is above a 3 day moving average of the previous highs); or 2)when you surpass a previous peak; or 3) when surpassing a previous peak and going from a negative to a positive trend. Reverse the above for shorting. Oh! Here's one of my dear sweet children now<g>. The weekly S&P is in a negative trend. The daily did a head bob and then folded back down, breaking the channel and once again having a negative trend. But, these quick signals on the daily often signal a bottom (I've hand charted the indexes back many years). swinglines.homestead.com Take care, Eric

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