Thursday, 7 October 2010

Atlas did not shrug!

Apart from the obtuse reference to one of my favourite books, "Atlas Shrugged" by Ayn Rand where the question is repeatedly asked: "Who is John Galt?", the chart below shows the importance of the EMAs that,  like Atlas who held up the world, the EMA holds prices. I use as the 33EMA as the arbiter of where fair value is.  Sometimes the 99EMA (3 x 33) works better. The two EMAs are critical support and resistance for me and dominate my Inside Out trades. These two lines are dynamite and can be used for lots of things in making trading decisions. We spent a lot of time in the training on them. take away everything else on my charts but leave me these two EMAs.

1 comment:

  1. I see the Mkt Profile context for trade number 5, but what are the other counter trend elements that you though might be signifigant to short against CVD and VB trend?