Breakout?, page-107

Hi Slick,

“As you can see the SP has now broken out below the lower uptrend line so we need to review the chart and see what it's telling us.”

I have the bottom of the trend line at 19.5c so I see it as still being comfortably in the uptrend.

As you said previously you are using different candle measures.
Both an OHLC and standard candle chart (which the majority of TA’s would use) have it still above the trend line.

I use MACD but that is well down on my list of preferred signals. It tends to chop you out of positions at the wrong time. It is good in trending markets and allows for a good entry and exit signal, but when there is a period of sideways price activity it is one of the poorer signals IMO.

I am looking for a move to active trading at 21 early next week and then a test above your 22c resistance.

IMO