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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: shasta23 who wrote (4002)	1/20/1998 9:40:00 PM
From: TATRADER	Read Replies (1) \| Respond to of 7396

Stefan, the tight pattern on PLAT is 27.50 by 22.50, a rectangle pattern...However, you have to include the spikes in your analysis... I use the Bollinger bands here to get the range of 21.81 by 29.63... You can do a 3 day, 5 day volume study as the stock approaches each end of the rectangle to determine which way the strength is leaning in the pattern, to the upside or downside....The 3% rule is used when a trendline is broken...Take the Nasdaq composite...The downward trendline is pegged at 1600...If we go to 1648 and hold for two days, my goose is cooked...Personally, since so many pros are acquainted with these principles, they will probably take it right to that level to torture me....But I must say, I have become hardened over the years and won't throw up the white flag, until my TA indicators tell me too....Regards, Mark