Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: shades who wrote (7156)	1/14/2006 2:28:37 PM
From: chowder	Read Replies (1) of 13449

Re: ELN ... >>> The candlestick software says it may be time to sell ELN because of a high wave bearish harami <<< This is where knowing your time frame comes into play. ELN was posted as a long term play here. For a long term play, I require a rising 20 week moving average to be above a rising 40 week moving average with a comfortable distance between the two. As long as this bullish alignment is in effect, I plan on sticking with the trade as long as price remains above the rising 20 week moving average, or until the price target is hit. With this in mind, it's the weekly chart that dictates my strategy. The weekly chart is showing a very bullish candle. stockcharts.com[h,a]waclyiay[d20050114,20060114][pb40!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G If I were looking at a short term trade or swing trade, then the daily chart would dictate my strategy and I would lock in profits if price trades below Friday's low of the day. The chart you posted would agree with that strategy. That's why it's important to know in advance, the time frame you wish to trade in. Each time frame has a different strategy. dabum

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