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Strategies & Market Trends : Technical Analysis - Beginners

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To: Tom Halkar who wrote (8019)	2/3/1998 8:23:00 PM
From: Richard Estes	Read Replies (2) of 12039

extremes on vol, say 2-3 times 180avg volume says too much to soon. high bullish or bearish talk in media and net. Price above or below 89 EMA by 20% or more. When you feel a top is approaching then put a 7EMA with a 5 horizional shift on price. Sell on cross. I use more complex fib/gann indicators with e-wave to try to predict the tops and bottoms. But you can't tell for sure. after the 11/13 low you could have predicted a 114-145 move using fib off the wave 4 bottom. I can't see any thing that might have shown the ease that it broke thru 96.25. But it did seemed likely it would, just might have taken 3-4 runs at it. I suspect it should rest soon, it is about 21% above 89 EMA. But the real key is how do you trade? I am speaking in intermediate terms. Short term has a different way of looking at things. Shorten your focus to 5-13 day periods. RSI(9) might call some shots. You can't call all the tops/bottoms, you just want to get close.

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