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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Berney who wrote (20164)	7/15/1999 1:24:00 AM
From: Vitas	Read Replies (1) \| Respond to of 99985

Berney, bullish or bearish? I'm flipping coins over here. Vitas

To: Berney who wrote (20164)	7/15/1999 5:55:00 AM
From: HairBall	Respond to of 99985

Berney: I have no position in MSFT. I would like to know simply how the decision is made by you to draw the line showing yesterday's high hit a trend line. Well, that is going to be an easy answer. That horizontal trend line is simply the previous all time high produced last April on the 6th. Often previous lows or highs can act as both price action support or resistance areas. That trend line has been on my chart of MSFT for months. I always use a dashed line to illustrate horizontal price action support or resistance areas. Dark green as resistance, dark yellow as support, grey is a previous support or resistance line that has been broken, but can still offer support or resistance depending on the price action. Also, I use dark blue for formation trend lines for both support and resistance. I hope that helps... Regards, LG