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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: HeyRainier who wrote (9176)12/12/1997 12:05:00 AM
From: Esteban  Read Replies (1) | Respond to of 79371
 
Rainer,

I've read a post where Doug emphatically states that all of the days action must be included above/below the trendline and not be cut by intraday action.

Personally, I follow this rule except where one intraday penetration spoils a trendline that has been well established by several other touches. It's my way of fudging in order maintain the angle of the line in general alignment with the price action. This can keep an otherwise effective trendline from diverging from the price, and give an earlier signal if it's broken.

That's my viewpoint, FWIW.

Esteban



To: HeyRainier who wrote (9176)12/12/1997 2:30:00 PM
From: Doug R  Respond to of 79371
 
Hi Rainier,

Esteban has it right; I always use intraday highs and lows to draw my lines because they define the real limits of the supply/demand dynamic for any day and the trend in the dynamic over time. The closing prices do not supply this info IMO.

Doug R


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