|
PureBytes Links
Trading Reference Links
|
It's hard to argue with success. Great call, Jim.
But I still don't see the breakout yesterday.
I draw the same resistance line from 1/23 to 4/9.
ASND broke through it this morning at 43 3/4.
I am using HLC bar charts with data from Reuters Datalink.
My charts do not include non-trading days (weekends).
Anyway, my real dilemma now is whether to buy in now at $45,
or wait for it to fall back to support at the old resistance line.
Opinions anyone?
On Wed, 30 Apr 97 15:56:03 UT, you wrote:
>Guy,
> For one thing, are you using standard HLC bar charts? I'm using candle
>volume charts which would make a difference. For the short term down trend
>channel I start at the 1/23/97 high, connect it to the 4/9/97 high, and extend
>it to the right. That's standard Trader Vic methodology. Connect from the
>highest high in a period to another high before the lowest low without drawing
>the line through any data before it's extended. I then draw the bottom of the
>channel by drawing a parallel line through a low in the period such that it
>also does not intersect any data.
> I relooked at my chart, zoomed in, and put it on full screen. It clearly
>shows ASND breaking out yesterday. I don't have today's data in yet, but it
>would show a breakout today even on a HLC bar chart today. I'll attach the
>full screen view.
|