4 replies to this topic

[mss]

"SAMSUNG" GETS FULL CREDIT

-- for bring this type analysis back to the board. Please click on the link for his original analysis.

Below are the weekly and monthly charts using a slightly different "view" method.





mss

[dougie]

MSS ; can you comment a bit more on this charting?

[mss]

MSS ; can you comment a bit more on this charting?

There are a couple of ways to do this and the result is pretty much the same as long as whoever does it fully understands their technique.
This is the way I do it and it may or may not be the best way, but I understand it for my use.

I draw a line from the highest point of price, to the lowest point of price. (in this case the light blue line). Then I go to the future price point and draw a line starting at the highest price point. The two lines are equal in time and angle, parallel. If a logical channel can be drawn on the first price group and transfered to the second, I do that also. A TOP to TOP line is drawn and a parallel is drawn from the bottom of the first group. This technique can also be done comparing an up trend.
Hope this helps, if you want more I'll try to explain it better.
best to you, mss

[SilentOne]

hey scott,

Nice one! The overnight futures are basically there, but you got the year all wrong! I was buying the close today. Hope it doesn't hurt me too much in the a.m.



cheers,

john

[SilentOne]

Well, took the trade on the open for a good gain. Buying on Friday was very opportune as well. Now we'll wait for the retest. My motto is to trade it. cheers, john