The top-down strategy works to keep our Daily Charts in synch with our Weekly charts and the Weekly Charts in sync with our Monthly Charts allowing traders support across multiple time frames dramatically increasing their chances of consistency with winning trades.
Traders simply looked at the weekly chart below as the starting point in determining whether to “consider even taking a bullish long” position with the daily chart above.
As you can see, the weekly was in full support of a bullish move and this gave us support and confidence to take the position.
What you also saw in the daily chart was that our exit point preserved the gain while the ATX/EWO took a dive.
InterAnalyst has been serving over 500,000 investors globally since 1990. Authoring hundreds of financial articles, publications, and thousands of buy and sell trading charts. Mr. Nespoli’s Premier Bull & Bear blog is been read by more than 500,000 investors globally.