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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: David R. Evans who wrote (7531)	1/6/1998 11:26:00 PM
From: Terry Mitchell	Read Replies (1) \| Respond to of 12039

Dave, as a newbe to TA it is very easy to just look at the last year and forget to look back farther. How far back is it worth going to look for S&R or is there no real limit? Does past S&R tend to create later levels which then causes reinforcement of those levels? I was going over your IBM example and was looking at stocks that had StochRSI(14) crossing 30. In the large majoraty of cases Dahl was moving down or was flat. Only a couple of times was it moving up but by only a little. In may cases Dahl turned up in a day or two. With this type of system would the decision be made that day to buy or would you watch the stock for the next couple of days to see what happens to marginal indicators? Terry