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

To: Jerry Olson who wrote (40048)	2/12/2000 7:15:00 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Jerry - no, I am not at all acquainted with P&F but there is something I think similar to my approach which involves looking for key trading banks that define bearish / bullish direction on either side. I use it in all time frames, and in the larger timeframes I would not at all be surprised if your numbers and mine are quite close. I never try to buy the exact bottom (but I sure as hell try to short the exact top LOL!... well, a failure point below it on a 5 min chart perhaps...) so I'm buying when things have proven themselves. The only difference perhaps is that I will not be buying on the way down, I will be buying when things have reversed and held one of these levels. Probably a 45 minute chart will be my tool for detecting the end. Unless, its "the" end... The great thing about this medium here is we'll all get to yak about it either way after the dust settles. Have a nice night with your lady!