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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (1679)	12/3/1999 12:10:00 PM
From: Atin	Read Replies (1) \| Respond to of 7434

Also, I prefer to use 5 minute, 10 minute or 60 minute charts during the day because a daily chart will not update for reversals during the day. Charts wait for both a high and a low to be formed for the whole period before deciding whether it is a reversal. So if you are in a column of Xs, and make a new high, I will extend it, but if you reverse and fall I won't reverse because there is still a chance that the price will go back up and make a high! But since the period under consideration is only 5, 10 or 60 minutes, you'll see a reversal during the day, but you won't until the end of trading if you are using a daily chart.