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medianlines are a map .. nothing more... but certainly nothing less.time and again they catch traders in panic looking the wrong way at extremes.examples.

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quote:
Originally posted by roofer

medianlines are a map .. nothing more... but certainly nothing less.time and again they catch traders in panic looking the wrong way at extremes.examples.

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roofer, I'm looking at that last chart, and the low point in the bottom right hand corner that you have circled in black at around $24. During that drop there was a median line at around $27.50 and there's another somewhere below $24 that we can't see.

What's your strategy when trying to buy that "falling knife"? Do/did you go in at $27.50 with a stop and then retry at $24 and then again further down? Each time re-entering until one of them works and then trail a stop...?
in the interest of brevity, i showed years of data on one chart...showing how price at line is logical place to look for turn.. the only set on my trading chart is the black set.once price gapped the medianline of that set, the only taget was the lower black line...
I think I see what you're saying; the blue lines were obsolete by then?
day-yes. my goal in posting is to spark traders' interest to investigate for themselves. i could do a thousand posts; yet i could not match tim morge's writing at www. medianline.com...if a trader started with a careful study of the archived posts dated march30 and april 1,4,7... he would understand the mind and method of a great trader.entries, targets , stop movement, risk reward are all covered..and yes, it's all free.recent charts( which will be clear as can be for the trader who reads all the archived posts)

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Thanks roofer.