Wednesday, August 30, 2006 4:41:00 PM
I would disagree. I have found during runs (of any type) they trade very technically. Today, for example, the run found strong resistance at the .0051 level. This was the upper bollie and the 50 SMA. On the first test it retraced down to the ascending 50 min SMA, .0045 at the time, on the 1min chart (today only). Then bounced back up to meet resistance at the 50 SMA and upper bollie (and 50 DMA as SS pointed out).
I use technicals all the time for trading runs, and they are very reliable. In fact, I would never trade without my streaming, real-time charts.
The antics in the OTC by MMs and CEOs do make things harder though for true TA.
I use technicals all the time for trading runs, and they are very reliable. In fact, I would never trade without my streaming, real-time charts.
The antics in the OTC by MMs and CEOs do make things harder though for true TA.
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