EOD searches

[jkeech]

Hi Marc,

I like the idea of using a shorter time frame to look for an earlier 6/4 DMA breakout, for an earlier entry.

I use AGet EOD only and currently do my Type 1 and Type 2 searches using DAILY data. This of course doesn't give me a search result unless the price has already broken the 6/4 DMA (as per the recommended search setup).

Would I be better off then doing my search using 60 MINUTE data and then once I have the results, referring up to the DAILY on each chart to see if the same pattern (or type 1 or 2 trade) exists?

If it does exist and I already have a close outside of the 6/4 DMA on the 60 MIN, then I'm all setup to enter once the stock goes through the high or low of that 60 MIN bar (using a contingency order - as I have to trade while I sleep given the time differnce to Australia)?

[pj909]

I like to confirm my trade on several time frames like searching on 60m and cross ref to daily. One of the problems with this strategy is you may get a bearish signal on 60m minute but the wave count on daily is bullish. For example: your 60m may show a Type 2 sell that is only a wave 3 top on the daily, or some other contradictory pattern. The RT scanner has a nifty advantage over the EOD - it allows you to cross ref time frames in the scan. It would be nice to incorporate that feature with EOD. Then you could scan for a T1 trade on 60 min with say XTL being Blue on the Daily.