Charlie Miller's Djia - Analysis

2012-03-17 DJIA A LESSON ON LINES You each(prenominal) know how I acknowledge lines. I leave some of them on my maps on all cadence frames. Thats because lines by themselves, or as combinations, touch on to be one of our most reliable tools for understanding and/or predicting direction. Just short of the Raj Rajaratnam insider trading technique. What has, and continues to make them so adept is that they argon simple, everybody knows about them, and everybody uses them. No matter what, or who is despicable the market, they marshal collective thought, and usually give valuable, clear signals prime upon the old thesis that Things work, until they quit working. The DJIA intraday charts for March 15th and ordinal were a wonderful example of how to unlock some of the motive of lines. This evening, Ill take you step-by-step through my process of home run up my charts those two days. I have made it a practice to leave certain standard lines on my intraday charts. T hese be horizontal lines originating at the open, the high, and the low for the day. But, the opening offset, typically with its everyplaceleap have become a daily phenomenon, so I mark those levels as well. Of course, we dont know the take hold of value of the high for the day until the trading is over.

So, its non peculiar to mark a significant reversal as a high (or low), only to see it topped by a higher high, as happened Thursday. There were several early(a) lines on this chart during the day, defining a morning climb, and a flat afternoon, which Ive removed. [pic] WW-75. One interesting thing tha t we pipeline over and over is how some lin! es appear to provide bind or resistance, or both, into the future, as High 2 did above. And they may give strategic signals, such as when the High 2 line was discuss to the upside, in the final minutes of the day. That event was potentially an weighty signal, possibly presaging the up-open Friday morning. Was the surge due to a buyers spree? Did the Cyborgs tho let their...If you want to get a full essay, regulate it on our website: BestEssayCheap.com

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