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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Doug R who wrote (9165)12/11/1997 9:26:00 PM
From: HeyRainier  Read Replies (2) of 79364
 
Hello Doug,

It's good to talk to you after such a long time. There's been a lot of growing and learning on my side since we've last talked(it happens every day), especially on the TA as it applies to the FA.

I was wondering if you could provide an opinion on a question that involves a simple, but very important T.A. concept: when drawing trendlines, which is more effective or correct, drawing them and having them rest on top of the whole day's activity(and not having them cut through the intraday movements), or choosing to have them rest on just for the closing points of the day(say, for example, on a mutual fund's chart, where all the closing points are connected and have no intraday activity)?

I expect there will be differing replies to this question, but I would like to hear yours and other people's viewpoints on this matter. Your response will be much appreciated.

Regards,

Rainier
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