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Strategies & Market Trends : Charting & Technical Analysis for Stock Indexes -- Ignore unavailable to you. Want to Upgrade?

To: sean sanders who wrote (165)	3/20/2002 10:17:29 PM
From: chartwiznyc	Read Replies (1) \| Respond to of 211

Basically you want to wait 30 mins to confirm a trend direction....... 1. if price closes at $50.00 & your BUY entry is 51.00........if brfore 10am the next am PRICE hits 51.00 & goes to 51.50, at 10am & after, you look to BUY break above 51.50.......say price gaps to 52.00 & goes to 52.50 before 10 am.......then you BUY break above 52.50 from 10 am & on.......get it ? just to confirm a trend, when your working with dailies & overnight ideas, you need to have some filter to keep you safe & confirm a trend & this is a simple way, way to many times you could get a price spike from open to say 51.50 & then tanks down to 49.00 & you have been trapped on false move up......so that 30 mins allows for markets to settle & trend to develope....simple......Chris