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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: fftrader who wrote (33265)	7/6/2001 3:06:11 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69928

Hi fftrader, I track support and resistance on the intra-day, daily and weekly charts in addition to the generally followed 50, 100 and 200 period moving averages. I agree the support resistance levels on the charts have more relevance as the moving averages are an arbitrary construct. The value in the moving average is that it is a lagging indicator. As such, an erratic change or series of changes in the price ranges for a sufficient period of time is required for the price to cross the longer term moving averages. So a cross the 50, 100 or 200 period average is a noteworthy event for my trading style. I do know that moving averages do not work well in trend-less markets, but that does not mean I don't pay attention to them. Keep in mind that the notes I post with the sector and stock information are usually notes to myself. I don't always have time to post complete commentaries as I am posting in between trying to do my day job. From a quick look at your posting, you are experienced enough to know what is working for you and sticking to it.