did you get a "finder's fee" for this article? seems like they must have read your mesa post and decide to make a story out of it, complete with charts "just the way papa likes 'em". thanks for adding to this board!
also rely almost solely on buying support and selling at resistance for daytrades, also focus on the pace of selling/buying (gradual drifting, or rapid tubing or spiking), plus the time of the day (noon, 3pm are 2 particularly important times for daytrading the liquid stocks priced more than 30 bucks). What I do is essentially read the tape when daytrading, and when doing longer term trades, I read the supply and demand picture (that is, the tape) via longer term charts, like the daily, using candlesticks, moving averages but it is via patterns and trendlines that determine support and resistance, and quide my buying and selling.
confusing you because I am using an indicator that I do not understand how it is mathematically derived? I also turn on the TV or drive the car, and I can't say I fully understand the workings of those either.
But I use the identifying skill of noticing positive/negative divergences (price and indicators are going in opposite directions), and confirmation of price action via certain indicators from time to time, and more recently because others on the board are using them or are asking about their use.
More accurately, Fitzpatrick's MESA chart's OBV show (focus on the trendlines he drew for price and OBV) show a leveling off of sell pressure. But IPAR OBV does show OBV leading price.
I only started focusing on OBV because you seem interested in 'fancy' tools (I use the very plain and simple approach of price, volume, and moving averages for the most part, (as all indicators are derived from price and volume), with a quick glance at the MACD and Stoch, seldom at OBV until recently)) And just started to use MACD histogram (shows negative/positive divergence easily) intraday per Ironballs.
I reiterate that I still mainly use price (via candlesticks), volume, and the relationship to the 20, 50, 200 sma's plus patterns and trendlines.
Sorry if I caused any confusion and please ask me any questions to clarify any remaining confusion.
<just realize i forgot to paste this. you probably saw it anyway. btw,meeby and copy/pastes have a history of difficulty. >
lol. No problem. I should charge commision. lol. I have had some guy from the Street try to talk to me before, but I didn't belief him. You know how some jokers try to fake people out and stuff. Tool boxes basically, with no life.
MESA still looks good, which has me thinking Oil might continue to drop. We shall see.