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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Matthew L. Jones who wrote (4006)	9/15/1999 7:15:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Matt, +-1000 has always been the "norm" for the extensions on TICK. But during big rallies and corrections, I've seen it go to +-1300. In addition to channel/trendline support/resistance, TICK also has clear horizontal S/R. IOW looking at recent extremes identifies turning points if/when the current TICK pushes into it. Another great tool with TICK is to use candles. As the 5-min bars develop, you can pick out hammer reversals very, very early. I've been able to enter trades on those way before the crowd picks up on the index reversal. Alan