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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: David N. Jones who wrote (11057)	1/28/2001 10:37:00 PM
From: Monty Lenard	Read Replies (2) \| Respond to of 12039

David, I don't and never have used P&F but in checking you profile of recent post I see you are not a novice at trading so I suspect you understand how to use moving averages as well if not better than I. But I will bite...if I did use P&F AND if it was what I knew best and had the most confidence in, I would use the moving averages and macd's as CONFIRMING indicators to build my confidence in what I saw in the P&F charts. I don't trade ma crossovers like some. I just want to know where the price is in relation to certain major moving averages. The ones that EVERYONE watch. The ones that have a sentimental attachment to the funds, money managers etc. :-) I have a couple of macds that I want headed in the same direction (the direction I am wanting to trade). I use them primarily to determine overbought/oversold conditions. Personally, I trade the Candlesticks with the moving averages and macds as confirming indicators only in this market. Now there was a time (before the bear) that I would use just the macds and ma's but in a choppy market they are no good. The candles are best in a choppy market for me but I won't go against the grain of the macds...period. Monty