The 56 Point TA; Charts With an Attitude Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: RWS who wrote (10583)	1/15/1998 11:54:00 AM
From: Doug R	Read Replies (1) of 79284

RWS, The ACT and IL are trendlines that define a structural supply/demand dynamic in a stock. The two create a channel. The IL is an upper boundary that a break of leads to a relatively rapid decline to the ACT which is then used as support for a relatively rapid bounce up. A strategy developed using this dynamic calls for shorting a stock that is above the IL with covering and going long as the next step at the ACT. There are other types of channels that most are familiar with. While a stock can break out of a channel and establish a higher channel, I have never seen a stock remain above the IL so it could be considered the dynamic that defines the most exuberant level of buying that an individual stock can reach. I teach the method of constructing this dynamic on charts and several other proprietary systems at a seminar that I will be giving in Myrtle Beach on March 7. I start the session with the basics of charting and move through these systems to the use of technical indicators. There is still space available at the seminar so let me know if you're interested. Doug R

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next