Wednesday, June 30, 2010

Neckline broken?

Nope, don't think so. Too many people watching.

There, how was that for fluff-free?

Follow-up - but it will.
at

3 comments:

  1. Tryin2TradeJuly 1, 2010 at 5:04 AM

    Hello Mr.Michael Kahn


    I have been following your blog since long...

    I have a small question and the reply will satisfy the curious TA in me.....

    Its about the RSI....

    Q. Since the RSI calculations are based on the closing price, therefore isn't it appropriate while looking at divergences, we should compare the closing price (line chart) rather than the Hi/lo's ???

    Thanks in Advance

    Regards

    Manoj Bhagra

    ReplyDelete
  2. Michael KahnJuly 1, 2010 at 9:00 AM

    You have discovered what most chartists do not understand. You have to match the indicator to the price series.

    ReplyDelete
  3. Tryin2TradeJuly 1, 2010 at 10:45 AM

    Hello Mr.Michael Kahn

    Thanks for the reply...

    It did clear out a few things..as RSI is a integral part of my trading and so are the divergences...

    Thanks once again...

    Cheers!!!

    Manoj Bhagra

    ReplyDelete