trademan1
Long

NAT long term breakout

NYSE:NAT   NORDIC AMERICAN TANKERS LIMITE
97 0 0
Nordic American Tankers would be another good long term buy and hold. The price is crossing above all moving averages and the waves are nearly all above 0. In this case I tuned off C1 since it was below zero and just am concentrating on waves C2 through A. Good charts to trade don't need all the waves across 0, just the ones that currently are agreeing with the trade direction. If the ones that agree with you then change, it's the signal that the trade should be revised or closed. Note that the waves are above zero and also rising, with the confluence of moving averages (they are all nearly in the same area) acting as a strong support zone.

Understanding the wave indicator in this fashion shows that all the market participants that are bearish and those that are bullish are both correct. There seems to be a focus more on a contest between them, rather than their timing where both types ultimately make a profit. As long as each group adheres to their respective trading plans, they both benefit and actually help each other indirectly even though their perspectives are opposites.
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