Combining Candlesticks, Indicators, and Pivots

[jacobnbr1]

Ok i have been looking at some charts and seems as if when i scroll from chart 6 month to chart 3 month and then zoom in closser to the days i just get mixed signals of what is going on. Any advice on this?

Perhaps i need to draw the support and resistance lines 1st along with any divergence lines?

thanks

[Bfbusa]

Question concerning Pivot and retracements.

As the strategy dictates, you want to wait for a retracement to the pivot before entry. Whould a candlestick pattern Tweezer Tip formation , as seen on the YM chart today 9/25/2006 at 10:47am be considerd a pivot test and then retracement on the next bar. In this particular instance, the YM never looked back, it just kept going.

[Soultrader]

Hi Bfusa,

Not sure what a Tweezer Tip formation is. Can you post a chart up so I can take a look?

I had a long bias for the YM today because of the daily charts. If you take a look the trend was still valid and the YM has just finished its pullback. It was all about timing today to try to get in for the nice trend.

[Stockaddict]

jacobnbr1,

What methods do you use to detmerine insider buying? Of course they need to report this to the SEC but the public will find out well after inside buying has been done. Do you look for clues in volume?

[Bfbusa]

	Quote:	Soultrader
	Hi Bfusa, Not sure what a Tweezer Tip formation is. Can you post a chart up so I can take a look? I had a long bias for the YM today because of the daily charts. If you take a look the trend was still valid and the YM has just finished its pullback. It was all about timing today to try to get in for the nice trend.

Hi Soul,

If you look at the TM chart from todat at 10:47 am you see two candle bars with equal size tails at the value low pivot befoe the day long revesal. I post the chart if I knew how. You also see another tweezer earlier at 10:06am. They are usually significant after a bit of a run in price and could signal a change of trend. Especially when they occur in conjunction with other signals. Hence, the pivot points.

Bill

[Soultrader]

Hi Bill,

You can post charts using the attachment button that looks like this: This function is only available when you post a reply and not the quick reply.

I use a 233 TICK chart so the candlestick patterns may be slightly different from the one you see. However, when the YM tested the value low pivot, it does look like we saw a doji followed by a candlestick with the equal size wicks.

The value low pivot is usually a good pivot to use as support. Once broken, it acts as key resistance. Today, it became the dead low which is quite interesting. I was careful today at the initial test of the value low pivot due to weak market internals. But after it held the second test, this was a good information that the markets had found support and good for a long setup.

[Soultrader]

	Quote:	jacobnbr1
	Ok i have been looking at some charts and seems as if when i scroll from chart 6 month to chart 3 month and then zoom in closser to the days i just get mixed signals of what is going on. Any advice on this? Perhaps i need to draw the support and resistance lines 1st along with any divergence lines? thanks

Try looking at the larger timeframe to see the bigger trend. You might see a downtrend in a 30 minute chart but an uptrend in a daily chart. Always look out for the bigger trend.

Since you plan to trader on a longer time frame, the understanding the bigger picture is vital. Woud you be able to post some charts up so I can take a look? Perhaps I can explain this better. Thanks