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Replies to post #642 on Savvy Trader Companion Thread

Replies to #642 on Savvy Trader Companion Thread
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Sam "Raven"

01/11/03 4:01 PM

#655 RE: Sam "Raven" #642

Short term trade examples:

I thought I'd follow-up on these trades to better illustrate how I look at support and resistance, and how I approach short term trades. So looking at CYMI:



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Sam "Raven"

01/11/03 4:51 PM

#656 RE: Sam "Raven" #642

Example trades cont....

STN I got a little impatient with and sold prematurely:



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Sam "Raven"

01/11/03 5:33 PM

#657 RE: Sam "Raven" #642

Trade examples cont......

ESPD shows two things, first a breakout coming back down to support, and then picking it up as a short term trade moving from support to resistance.



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Sam "Raven"

01/11/03 6:03 PM

#658 RE: Sam "Raven" #642

Trade example..last one...

Ok, looking for support/resistance isn't always exact and I recommend using stops. I looks for support and resistance by seeing congestion/basing patterns. Our screening for short term trades does this mechanically. Interestingly, moving averages are of little value when looking for support/resistance buy points.