tweezers tuesday, page-74

Yeah I'm basing it all on support/resistance levels and just want simple indicators to give me an indication of what might happen at these levels, hence momentum and trend indicators.. I'm actually reading Brett Penfolds's Trading the SPI at the moment and he has some pretty good idea's. I want a trading plan that gives me signals but I'll be using it for suggestions only. I'm more of a discretionary trader than a mechanical one.

RSI has let me down a little as it is a little too open to interpretation, for example, if you get an RSI peak it could either be over bought (sell) or the first peak in a new upward trend. Doesn't really help and in that condition it isn't the best time to be entering the market as you are picking tops... If you wait for confirmation, the move is gone and you are too late.