dbphoenix said:
I'm sure that all sorts of people look at all sorts of things. The point is whether or not they are all looking at the same thing. If they aren't, what difference does whatever they're looking at make?
And while I may agree that drawing trendlines is hardly advanced, after 15 years of doing this, I can tell you that you'd be surprised at some of the efforts I've seen.
Edit: Drawing back from the abyss of theory and philosophy, let's look at a chart.
At what points does this 40w (200d) SMA provide S or R to the Dow?
And while I may agree that drawing trendlines is hardly advanced, after 15 years of doing this, I can tell you that you'd be surprised at some of the efforts I've seen.
Edit: Drawing back from the abyss of theory and philosophy, let's look at a chart.
At what points does this 40w (200d) SMA provide S or R to the Dow?
It doesn't. But, by the same token there's little to suggest S or R at the peaks and troughs of the reaction/retracement. There was, however, a fairly consistent dimunition of enthusiasm and If you draw in the trend line channel you'd be hard pressed not to think that it gave you a clue as to where S and R might be expected.
good trading
jon
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