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JO,
I appreciate your input, I really do. And thanks for pointing out the
FVE to me. But you keep talking to me as if I'm just off the boat
when it comes to trading and TA. As I've already pointed out to you,
I'm not. Ok?
I like FVE for very specific reasons: During a base or consolidation
pattern one tries to determine whether there is accumulation (or re-
accumulation) or distribution (or re-distribution) occurring. As a
student of Wyckoff, one of the main things I look at is price/volume
relationships. According to the article, FVE is an "improved" OBV,
MoneyFlow indicator. So I would like to determine, for myself, if it
indeed is. The purpose of my scan is to find stocks in long bases or
consolidation patterns which are exhibiting accumulation or
distribution. The scan only points me in the general direction of
acc/dist. I will then do a detailed pv analysis of the consolidation
patterns that seem the most promising and then follow them as they
develop in hopes of playing the breakout/breakdown or possibly the
pullback. As far as "trading w/the trend", I'm looking for reversal
patterns as much as continuation patterns, so these may be top or
bottom consolidations. This is what "Wycoffians" do, it's part of the
methodology.
I'm not just plunging in the deep end of the pool w/FVE cause I just
read about it yesterday and oh gee whiz I've got to try it out. I'm
interested in studying whether it can achieve very specific goals I
have in mind for my particular trading style.
Harold
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