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bbgold - This is the Daily chart.

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northam43   Wednesday, 06/01/11 09:22:52 PM
Re: bbgold post# 1542
Post # of 1590 
bbgold - This is the Daily chart. I use the Weekly chart to trigger a system Sell Signal. The Weekly price has not closed above the Weekly UTL since the new Phase 2 has been confirmed.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63724003

The only time the Daily chart is used for a Sell Signal is when my system is 100% invested, then when the price closes below the Daily UTL, I am allowed to sell one profitable position. The reasoning behind this, is when the SPX is in a Weekly Phase 2(Up trend phase), the Daily will continue to cycle through a Phase 1(down trend) and back to a Phase 2 (uptrend) maybe 2 or 3 times during a Weekly cycle. By selling a position at the beginning of a possible Daily Phase 1, I can lock in some profits and then hopefully buy back at a low cycle price.

Hope this helps. If not, keep asking questions.

JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."


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