Let’s Review
I thought I’d walk through the NASDAQ chart for the last month or so to show you how I came up with my game plan. This chart will look a bit different than the charts I usually post because I’m showing Guppy’s Multiple Moving Averages instead of just showing the 10, 50 and 200-day moving averages. (That link gives a good, quick overview of MMAs.) This is actually the set of indicators I use by default when looking through charts every night in TC2000. The chart consists of MMAs (short term group is green, long term group is orange), Bollinger Bands (blue) with a 20-day moving average as the middle band (also blue), and stochastic in the lower panel, and of course Japanese Candlestick charts. The visual nature of these indicators, as opposed to looking for some specific indicator value, allows me to make very quick appraisals of a chart. (My actual charts also have volume and On Balance Volume on them.) So here’s the chart, followed by what I was thinking along the way (click for larger image):
tagged: Bollinger_Bands, Bottoming, Candlesticks, Daryl-Guppy, Doji, Gaps, Hammers, Island-Reversal, Japanese Candlestick Charts, Moving Averages, Multiple_Moving_Averages, On-Balance-Volume-(OBV), Oversold, Reversal, Snap-Back-Rally, Spinning-Top, Swing_Trading, TC2000 and TeleChart
