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Re: eZ3 post# 907

Saturday, 07/07/2012 4:04:31 PM

Saturday, July 07, 2012 4:04:31 PM

Post# of 1452
Ok, now that is a good question because this is where it can get a little confusing. You need to decide what chart (daily, hourly, 15-minute or even 5-minute which I use on occasion will give you the best buy signals given the over all big picture as seen on the weekly chart. If the weekly chart i also oversold, then this is a major turn around point (or it could be) for the stock. So, in this case you could easily see the hourly and 15-minute charts stuck on overbought for a while as the market runs. Some time there is only a quick spurt up and then a correction on either the hourly or 15-minute or both before the stock gets underway again. That is why it is important to look at all 4 time frame charts in order to determine which chart appears to be giving you the most precise picture of where the price is really headed. If you were to print out or place then each in a separate window on your computer and look at all 4 chart side by side, you will clearly see what is going on in the big picture (or macrocosm) and also within that big picture in the microcosm world. Usually one of those charts at any given time appears to be the chart to watch to see where the price is really headed. That is why I do not always show the same chart. I tend to focus on the chart that has the best current picture. Mostly that is a chart that has a conflict like a triangle or consolidation pattern that could have an affect on the current dominant trend. hope that makes sense.

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