Silicon Investor (SI) -- The First Internet Community

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 : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Kevin who wrote (1244)	6/22/1999 11:50:00 AM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Kevin, The nature of the current trend must be viewed in context with the trends in the next larger and next smaller time frames. For example, an uptrend in a larger downtrend will meet strong selling at key points as the larger move tries to reassert itself. A single "higher high", for example, is a very typical 1-2-3 correction in an established downtrend. Alan

To: Kevin who wrote (1244)	6/22/1999 4:05:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 18137

Three.

To: Kevin who wrote (1244)	6/22/1999 5:49:00 PM
From: Teresa Lo	Read Replies (1) \| Respond to of 18137

In terms of looking at a chart prior to a trade, you would like to see a pattern of higher highs and higher lows once the first higher high and higher low has been made. Once I get into a trade, I only allow one bar that goes the other way and will close out a trade if a second one going against my direction is formed. For example, in today's 2B top you'd get in with a resting stop (in the 5 or 15 minute time frame) once the chain of bars making higher lows and higher highs was broken. Ignore inside bars. That would have gotten you short at the high of the day. When it started pulling back, it made a series of bars with lower lows and lower highs with only a couple of bars interspersed that made a higher low and higher high. When short, I adjust my stop loss order down to 2 ticks above the last bar with a higher high and higher low as a rule. Charts and audio is at intelligentspeculator.com