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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John T. who wrote (25715)7/20/2000 2:14:09 PM
From: Paul Shread  Read Replies (1) | Respond to of 42787
 
John, I'm seeing bull flags on the COMPX and SPX and a rectangle on the Dow in the 15-minute charts. Looks like the next wave will be up.



To: John T. who wrote (25715)7/20/2000 2:14:16 PM
From: Robert Graham  Respond to of 42787
 
So far price after breaking a larger trend line is respecting support. Interesting that price respected the 50% retracement point where the bottom was put in. Do fib retracements help identify waves? How about fib time intervals?

Price contraction in effect on the 1-min chart. Yep, a continuation move. That price contraction was almost worth taking even by my conservative standards. the problem for me is to identify when the marketis trending in the time frames I am trading in and take the first continuation breakout.

Bob Graham



To: John T. who wrote (25715)7/20/2000 2:21:10 PM
From: Robert Graham  Read Replies (1) | Respond to of 42787
 
On the 3-min chart, isn't there three waves down? First wave from 11:06 to 11:54, second from 11:54 to 12:36 and third from 12:36 to 13:27? :-)

Good thing I did not take that continuation. It was good for a scalp, but now price pulled back enough to negate the trade. Now there is a doji on the 7-min chart showing the 50% fib retracement of that move down has been respected so far by price.

Bob Graham


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