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Adam,
Keep up the good work! Notice in the chart (attached) that it's almost a
"given", when wheat is trading under the 13 day moving average, that the
market will test support (and usually hold). On the other hand, when wheat
trades above the 13 day moving average (which has been often during the
last year), we have a good chance of testing resistance and being turned
back. As other indicators have turned up in wheat, the "swing hi-lo" has
helped me to wait for the price to work into the support zone. Even though
wheat has been a rather disappointing long position during the last three
weeks, the support zones have kept my purchases grouped between 2.59 and
2.63.
Also, check out the June bonds for the last ten days. Where are you going
to get better support and resistance than this? (Please, someone out there
has better "stuff"...send it...
I want to get my hands on it.) Don't worry about "trendiness". If the
price violates the support (like in the DX today) or resistance (like Sugar
today), it's an indication of a market that will continue (with gusto).
I'm just starting to get comfortable with the bracketing, but combined with
a modification of the probability cone (for daily ranges), I'm starting to
scare myself with range projections.
You really do great work Adam. Used and "tweaked" with a few other
technical indicators, the hi-lo swing can be a powerful tool.
Steve Karnish
CCT
----------
> From: VonHef <VonHef@xxxxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Support or Resistance Penatration question
> Date: Wednesday, May 05, 1999 5:21 PM
>
> Tommaso,
> You may be right about the swings being only vertical.......I was just
> making
> an observation on the method (as I understand it) of using his "HiLo"
> indicator
> with what he calls "Gann-Swing" method. The HiLo is a simple 3 day
average
> of the high or low depending on the market direction, and my testing
shows
> that this would be better used in a trending market only. Don't
> misunderstand
> me, I am not degrading Krausz or his methods, In fact.....since I have
> started
> using this "Expert Advisor", my trading has improved! But, I don't follow
> these
> signals blindly nor do I take every signal generated. I believe the first
> step in
> improving a system is know its weaknesses, so my next project is to try
to
> create an expert that will identify all three market conditions and alter
> the
> signals accordingly.
>
>
> Best wishes,
> Adam Hefner.
> VonHef@xxxxxxxxxxxxx
>
> ---------------------------------------
> ----- Original Message -----
> From: Tommaso Galanti <galantit@xxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Wednesday, May 05, 1999 6:40 PM
> Subject: R: Support or Resistance Penatration question
>
>
> > Adam,
> > I believe that, in principle, Mr Krausz's assumptions are consistent
with
> > working in a swing scenario: swings are 'vertical' moves and trading
> ranges
> > are just parts of them; you trade according to the global swing rules
and
> > not to a part of it.
> > On the other end (practical), Mr Krausz claims in his web site
> > (www.fibonaccitrader.com) to have recently added to his sw some
indicators
> > that measure the trendiness of the market, based on Mr. William Blau's
> > works.
> >
> > Greetings
> >
> > Tommaso Galanti
> >
> > -----Messaggio originale-----
> > Da: VonHef <VonHef@xxxxxxxxxxxxx>
> > A: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
> > Data: luned́ 3 maggio 1999 20.59
> > Oggetto: Re: Support or Resistance Penatration question
> >
> >
> > > Mark,
> > >Thanks for the reply. Actually you are dealing with the exact scenario
I
> am
> > >asking
> > >about. I have been analyzing the "Gann-Swing" method that has been
posted
> > to
> > >the list.......there are many things I like about it, but one thing I
> don't
> > <snip>
> >
>
>
Attachment Converted: "c:\eudora\attach\FT-HiLoSwing(WN).gif"
Attachment Converted: "c:\eudora\attach\55usm2.gif"
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