wooshka, page-46

Not sure what you mean there Chalea. All im saying is that the chart doesnt have to be perfect. A lot of guys use a small range for the support and resistence levels as in instead of saying support is at $890, it will be %880 - $900. Breakouts are fine. If you look at a candle stick chart of the gold price or any stock, you will see that the trend lines can swap from touching on price of close, to lowest or highest in intraday trading (the wick). With some practice, you soon learn which way the trend line is going. So IMO the gold price opened on the trend line, had touched it twice previously and respected it, then it went down in intraday trading, then went back to within the channel where it should be.

For a good example of how I use charts to my example, have a look at what I posted on the KCN thread yesterday. It took me about an hour to find that stock, after sifting through a few market scans and fundamentals. But the chart looked good, it is fundamentaly good and I was counting on the POG to stay in an upward trend and it did. Basically no matter how good a stock is fundamentally, I wont touch it unles its trading close to the bottom of its trend line, usually right at the bottom.