I hate it when I correspond with somebody smarter than I am! OK, I see what you mean re 2/7/02. Very impressive. However, scrolling backward in time, there are about as many instances where it doesn't work as where it does. Do you have supplementary rules for when the 200ma provides S and R, like "the ma provides support from below if the ma is rising, and resistance from above if the ma is falling?" Also, I have a little "resistance" to using the 200 ma on anything other than daily charts, because it's a Pristine thing. Somebody I read somewhere snorted in a post that if you put a 200ma on every chart in every time frame you're bound to find S/R out of sheer coincidence. But from now on, it'll be on my charts. What do you play when 200ma S/R DOESN'T work?
Re other periods, I almost exactly match you, using 5, 15, 30, and 60 minute charts to see what traders in other time frames see. I guess we both learned our lessons from Alan Farley. I never saw much benefit to the 10 minute chart. I shall eagerly await tomorrow's lesson. - Your humble student, Mike |
