Firstly Kate has given a good rundown - the thing with the markets - they constantly change and evolve - the more technical analysis that is available the more that certain players trade in a way that covers their tracks - they are cunning and play bait and switch with the gullible -
What we try to do with chart analysis is anticipate different things that give us the edge - these days it is quite common for a stock to be sold off on good news - this in itself should encourage any smart fundamentalist to learn the basics in charting - there are so many different approaches ….
Charts tell a story - if you go back and analyse what they have done in the past in certain news events etc it just gives and insight into when a stock is preparing to run - Or when a stock is reaching the top of a certain rise - there are a lot of different situations - A good company will be perhaps harder to read - as the management and employees stick to the rules -they shut up - so big news events are indeed a surprize that will be chased ---
The charts I have posted are my attempt to pick the story apart - right now we are waiting on anticipated results - traders will buy and when stuff doesn't happen fast - they get bored and (cranky ) and dump their stock - the thing to look for is what the price does - is someone stepping in an mopping up that stock ?
these things can be assessed to a certain extent with charts - I like fundamentals and will usually base my analyses of the chart with that in mind -
If it is a flash in the pan daytrade I will go purely on what the chart and volume are doing -
All trades have a different criteria and there are different tactics in all trades- Us little folks are playing against the house -
So if you care to learn there is a wealth of information out there - there are no guarantees - often a chart is as accurate as the person that reads it - charts are probability of crowd behaviour -
Have a look on you tube - start with the Wykoff method - you never know you might get the spark and go on the journey of learning how it all works![]()
Charting Only., page-27
-
- There are more pages in this discussion • 2,499 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IMU (ASX) to my watchlist
|
|||||
Last
5.3¢ |
Change
-0.001(1.85%) |
Mkt cap ! $389.5M |
Open | High | Low | Value | Volume |
5.5¢ | 5.6¢ | 5.3¢ | $615.0K | 11.39M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
25 | 2977440 | 5.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.4¢ | 283236 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
25 | 2977440 | 0.053 |
25 | 3109336 | 0.052 |
24 | 2300422 | 0.051 |
66 | 4218756 | 0.050 |
23 | 3155527 | 0.049 |
Price($) | Vol. | No. |
---|---|---|
0.054 | 283236 | 4 |
0.055 | 1134647 | 7 |
0.056 | 1642592 | 7 |
0.057 | 1624353 | 11 |
0.058 | 230000 | 3 |
Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
Featured News
IMU (ASX) Chart |
The Watchlist
MTL
MANTLE MINERALS LIMITED
Nick Poll, Executive Director
Nick Poll
Executive Director
SPONSORED BY The Market Online