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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (42322)	12/16/2000 10:51:12 AM
From: Atin	Read Replies (1) \| Respond to of 44573

Take a look at the 5 minute, 1x3 ES01H chart, and the 30 minute 2x3 ES01H chart with the 10/20 MAs on it. The MAs seem to act as resistance in the downtrend, and support in the uptrend. I'm using the MAs to figure out trend and then going against any breakouts that happen against the trend. I am using the longer timeframe to decide trend, though I am using the shorter timeframe to warn me. I think I took the long at 36 because the shorter timeframe said up, and I liked the higher low that had formed on the 5 minute, 1x3 chart at 13:55-14:05 -- I was late getting in though. The problem with PnF is that when you see the reversal you're a little far from the stop loss point and you'd ideally want to sell at the top O rather than the bottom O of the reversal. But frequently you never see the top O again . . . -Atin