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Strategies & Market Trends : Ask Vendit Off-Topic Questions
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To: rrufff who wrote (8336)5/3/2005 6:24:33 PM
From: Vendit™   of 8752
 
rrufff

My recommendation is to watch the daily chart first. When William’s %R moves to the -100 area on its scale then you know that you are in the buy zone. William’s is always going to be the first indicator to react up or down.

Once you are in the buy zone you can zoom in to 15 minute intra-day charts with the following setup:

139.142.147.22

When viewing this above chart consider the following and in this order of importance: (remember that you are looking at 5 days of data)

1- Candlestick color groupings and directional trends. Are the candlesticks white (bullish) or black (bearish). Are they tall (bullish) or short (no event). Is the direction moving up/down/sideways?

2- Once you spot the trend look at stochastic. Is it set up in the buy zone under or about the 20 or 30 on its scale? If it is then you have two confirming buy signals on an intra-day basis.

3- MACD is also a very useful intra-day indicator but I will not attempt to explain it on the message board. I am installing a voice over IP on my website intended to be used as a classroom for traders who wish to learn how to do what I do. It will be a value added service; i.e. free.

4- Lastly switch from a 15 minute time frame to a 5 minute time frame and review the same information as above. You will clearly be able to see exactly what the spammers are doing when you use this technique. Just trade with them and trade their pants off.

:)
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