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

To: Michael Watkins who wrote (9849)	3/15/1999 2:24:00 PM
From: BuddyW	Read Replies (2) \| Respond to of 12039

Michael, I have a TC2000 scan that identifies an inside day, with a stoch(12,5) rising thru 20. This only gives me candidates. I then look at various MACDs to try to single out buy opportunities. I'm only paper trading at this time, as I am still searching for a system that works. I can't say for certain that inside days is a good indicator. The last few stocks that came out of this scan are RDRT (even), DPRC (down), NEV (up-due to oil sector rebound I think) and NSM (even). I wanted to backtest the scan, but TC2000 has no way to do this. I'm not ready to throw inside days out yet, but I have not been able to find the right combo, if you will. I am very new to TA, so take my comments with a grain of salt. I have not posted to date about TA, because I am still reading, learning and trying various techniques. fqwiii...

To: Michael Watkins who wrote (9849)	3/15/1999 4:43:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 12039

inside bars are contraction, the main thing you look for is the expansion coming soon. The market shows two main elements Expansion and contraction. The expansion can be either up or down. The longer the Range or base the further the breakout will go. You can throw a arc from start of range to breakout and have a target for length of move. So draw your circle with breakout in center and the edge at start of range. I am not really a pattern man. But you have people who use These free net charts and don't have the tools available to measure trend. So the simple Swing function might help. Patterns are a confirmer not a decision maker.