Charlie Miller's Djia - Analysis

2012-03-17 DJIA A LESSON ON LINES You each(prenominal) know how I acknowledge lines. I leave some of them on my maps on all snip frames. Thats because lines by themselves, or as combinations, touch on to be one of our most reliable tools for understanding and/or predicting direction. Just short of the Raj Rajaratnam insider trading technique. What has, and continues to make them so dependable is that they argon simple, everybody knows about them, and everybody uses them. No matter what, or who is abject the market, they marshal collective thought, and usually give valuable, clear signals pitch upon the old thesis that Things work, until they quit working. The DJIA intraday charts for March 15th and one-sixteenth were a wonderful example of how to unlock some of the precedent of lines. This evening, Ill take you step-by-step through my process of marking up my charts those two days. I have made it a practice to leave certain standard lines on my intraday cha rts. These ar horizontal lines originating at the open, the high, and the low for the day. But, the opening offset, typically with its lam have become a daily phenomenon, so I mark those levels as well. Of course, we dont know the sack value of the high for the day until the trading is oer.

So, its non peculiar to mark a significant reversal as a high (or low), only to see it topped by a higher high, as happened Thursday. There were several early(a) lines on this chart during the day, defining a morning climb, and a flat afternoon, which Ive removed. [pic] WW-75. One interesting thing that we pipeline over and over is how some lines appear to pr! ovide bind or resistance, or both, into the future, as High 2 did above. And they may give authorized signals, such as when the High 2 line was initiate to the upside, in the final minutes of the day. That event was potentially an eventful signal, possibly presaging the up-open Friday morning. Was the surge due to a buyers spree? Did the Cyborgs notwithstanding let their...If you want to get a full essay, lodge it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay