Hi CF
Thats a good healthy skepticism ......and Isnt Fitz clever to also nail up a further warning.....bugga that now how can I start a new scam....anyway...
I can well understand your confusion about the post...there is no pretense about precise accuracy we are only attempting to improve our trading odds as best as possible...Just staying in the game can be hard enuff....
So pull me apart as you wish but do try to be a little more constructive with your questions...Its a Chart thread however I do accept I wasnt clear about the attachment of FMF's post and where it concluded before adding my own chart..
His charts assume a respectable TA knowledge as a prerequisite and he kindly adds interpretation comments .
What you are looking at can be summarized by the stocks history and some very common technical analysis precepts. The first is that a price volume will fall before a breakout ( yes it can breakout either way) earlier price support levels can give support which is the 57 low on 18/12........So this low is supportive and will need to be rebroken before we will see further lows....FMF points this out in he top of the post.....A breakout is also from an area of accumulation which can be seen as where High and low trendlines converge or trading ranges narrow...This is the case with NOR....I used the Bollinger Band description as many (even Novice Chartists know how Bollinger bands range before breakouts...So we dont know which way it will go and are watching for what appears to be a breakout.....It is time to establish stops using a momentum trigger to avoid whipsaws..and to be prepared to buy on confirmation of a trend change...cheers
for those who actually give a damn......
heres a Bollinger set its using a 20 period and 2 period reversal...
and before you ask.....
I just get the dog to regurgitate on the chart.....
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