Monday, April 25, 2005 1:48:00 PM
One more thing I did wrong today. Didn't watch my 1 day 5 minute DMI chart for a trend reversal. Remember the other day I posted my home made theory about day trading with DMI. Well look at the chart I posted then and look at todays chart at the link below.
When the DMI- started closing on the DMI+, while PPs tested double bottom around 10. It showed a reversal by closing divergence and confirmation of any change with ADX staying above. Wasn't time to sell until this pattern change back at 12 noon. Divergence closing RSI lowering and ADX lowering to Tight DMI range.
This trick works most ever time when I want to day trade.
Keep it in your bag of tricks. IMO
Choose 1 day 5 minutes; DMI & RSI as indicators!
http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=gtel&time=&freq=
When the DMI- started closing on the DMI+, while PPs tested double bottom around 10. It showed a reversal by closing divergence and confirmation of any change with ADX staying above. Wasn't time to sell until this pattern change back at 12 noon. Divergence closing RSI lowering and ADX lowering to Tight DMI range.
This trick works most ever time when I want to day trade.
Keep it in your bag of tricks. IMO
Choose 1 day 5 minutes; DMI & RSI as indicators!
http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=gtel&time=&freq=
Success !!! 
http://www.investorshub.com/boards/board.asp?board_id=3972 Welcome to my mind!
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