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To: SI Moderator who wrote (122)	11/20/2002 4:36:09 PM
From: Teresa Lo	Read Replies (1) of 170

Yeah, you can use the 14-period ADX to qualify (confirm a strong trend) and the 20-period EMA or 30-period SMA set up a price for a retracement trade, but I don't usually trade this because by the time it's retraced that much, it's not going fast enough for me anymore. I’m watching for certain people to do certain things. I know how other people trade, such as the floor traders and their use of pivots. I know all the mythology and everybody’s setups. Essentially, it involves watching for pattern or setup failures. If a pattern fails, it catches a lot of people offside, and I capitalize on that. I watch things unfold, and if the market doesn’t go to where it should, then I know a bunch of people are caught on the wrong side. They have to get out and we try to make money off their exit.

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