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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: profile_14 who wrote (3229)	4/9/2005 6:32:56 PM
From: chowder	Read Replies (2) \| Respond to of 13449

Profile, I don't keep up with flags and pennants. I don't keep up with triangles anymore either. So, I don't know the answer to your question. From my perspective, what's important in the world of TA is first, matching the correct chart to the time frame you wish to hold a position. Short term look at short term charts, long term look at long term charts. Next comes the trend. Are we seeing a series of higher highs and higher lows, or are we seeing lower highs and lower lows? Or, are we in a trading range where price moves sideways within a price range? Knowing the answer to the trend will determine the strategy one should use. Then comes price support and resistance. Once you determine the trend, then you choose the correct indicators for that market condition. In other words, if there is a trend up or down, you use indicators that confirm the trend or look for diveregences in the trend indicators. If there isn't a trend up or down, but a trading range where price is basically moving sideways within a price range, you go with oscillators. The high probability trades come when one buys or sells around price support levels or price resistance levels. By placing stops on the other side of said ranges, one keeps losses to a minimum when they are wrong. dabum