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

To: HairBall who wrote (81111)	8/1/2001 5:32:16 PM
From: eichler	Respond to of 99985

LG, No offense taken. In fact, I was about to follow up that post mentioning that trading according to the very short time-frames can expose one to extreme whippiness...ggg I got a bit busy here at work and had to take care of things.. Perhaps the best way to trade the index or an expensive stock (more than a buck...LOL), would be to trade off of the 15 and longer timeframes and keying on the shorter timeframes during periods of concern: trendline touch and potential break, etc. Mainly, I bias my expectation according to the daily chart, and move down in time frame to get the jump on an anticipated break {key levels: trend-lines, horizontal support ("price memory" ggg - thanks Kymar!), fibonacci retracements up and down on different timeframes}. At the end of the day, the 15 and 5 min charts were in conflict; the 15 showing rally and the 5 min whipping down... the winner was the 15 min... I appreciate your correction and am happy to know there are competent chart-ers to pick up the ball if I drop it! Thanks! My purpose of posting charts and TA comments is to refute the sentiment which occasionally surfaces that TA is nothing but hocus-pocus and Hooey.... TA is awesome, I wouldn't bother trading without it. Furthermore, it is as good as one would like it to be... Practice, practice, practice.... Thanks again, Regards, Eichler