breakout imminent (with charts), page-4

Something I stumbled over today, courtesy of Colin Twiggs:

Using Indicators
Always base decisions on the price/volume chart. All an indicator does is summarize the information already visible on the chart. While useful for highlighting patterns in price and volume behavior, indicators can never replace the depth of information on the original chart. When you summarize data, you sacrifice some of the attributes in order to highlight others — so an indicator never gives the full picture. Indicators have two main purposes:
1. To act as a filter when screening stocks; and
2. To act as a form of executive summary before you examine the price/volume chart in detail.

I must admit that sometimes I overly focus on indicator charts at the expense of the price/volume - unfortunately, nearly always costs me.