The 56 Point TA; Charts With an Attitude Message Board

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

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To: RWS who wrote (55465)	11/17/2019 1:55:46 AM
From: Doug R	Read Replies (2) of 79383

RWS, Indicator Entry into overbought is bullish. Once entry into overbought is seen...... Indicator "Noodling" while overbought is bullish. Every stock will "noodle" at some point in its life. It's just a question of being in the right place at the right time: The ever eventual turn down from overbought is where one needs to place attention UNLESS a predetermined profit-taking price can be established for the trade. This is where targeting techniques, coupled with stops that can be ratcheted up daily (or otherwise periodically) will allow for better "control" of the trade than seat-of-the-pants, "are we there yet", trading. T1 T2 L1 L2 That sequence exists over 80% of the time on charts that are moving with attitude. It's established prior to the move. When it yields a target of appreciable % within an acceptably fast timeframe.......(for a good trick say, 20% in 3 days.....)......take 15% on the way up. An extra minute deciding might make it 18%...or maybe 13% with trading ups and downs always happening. But targets take the worry out of "overbought". Otherwise...go with the 1,2,2 sto.

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