AI
Monday, March 20, 2006 5:47:05 PM
OK, I hear you. Just to show the whole spectrum of what I am talking about....
All major moves have fit perfectly whithin this chart which is a very long term chart. The shorter duration charts simply show a closeup view of this.
Regardless of how good the news is, it will still "respect" its boundaries within these charts.
Also, the longer term moving averages do not change quickly as it is an average price over the last 200 days (MA 200). This means that they can represent resistance levels on a run up which is a good place to take profits.
So, it is the same chart with a differant position for the price within the chart.
PS
sorry if I was/seemed touchy, but my point remains the same regardless.
BTW, I drew this chart and these lines almost 6 months ago....
All major moves have fit perfectly whithin this chart which is a very long term chart. The shorter duration charts simply show a closeup view of this.
Regardless of how good the news is, it will still "respect" its boundaries within these charts.
Also, the longer term moving averages do not change quickly as it is an average price over the last 200 days (MA 200). This means that they can represent resistance levels on a run up which is a good place to take profits.
So, it is the same chart with a differant position for the price within the chart.
PS
sorry if I was/seemed touchy, but my point remains the same regardless.
BTW, I drew this chart and these lines almost 6 months ago....
