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Strategies & Market Trends : E-Mini Pit -- Ignore unavailable to you. Want to Upgrade?

To: hypostomus who wrote (330)	2/8/2002 11:05:47 AM
From: the-phoenix	Read Replies (1) \| Respond to of 11288

hypo: First of all, flattery will get you nowhere. :-) I am no guru, and have no desire to be, but am glad to share what I know (and don't know.) >>Do you have supplementary rules for when the 200ma provides S and R, like "the ma provides support from below if the ma is rising, and resistance from above if the ma is falling?" << That's a good one! I also look at how extended the move into the 200 is, and how many tests of that level have been made. For example, I wouldn't have shorted a third test of the 200sma yesterday, because the third test often breaks out. The first test is the highest probability, then the second, and so on. I also ignore it if it is repeatedly being crossed in a trendless market, etc. >>Somebody I read somewhere snorted in a post that if you put a 200ma on every chart in every time frame you're bound to find S/R out of sheer coincidence.<< That is where the "art" comes in, because, that poster was, of course, correct. You can almost always find a technical "explanation" after the fact for any particular direction change, in any timeframe. The key is identifying the right ones ahead of time :-). >>What do you play when 200ma S/R DOESN'T work?<< I play 20mas, 50mas, 100mas, even 7emas and 10emas when conditions warrant. I also play trendlines and pivot lines. Hey, there goes that pivot resistance on the NQs this morning! Finally! Phoenix