DRE Chart, page-3441

G’day Pocean.

Tricky question as I need to put it into context. Are you seeking to top up an existing holding or make an entry for a short term capital gain? So for this explanation I’m going to assume the former.

Using this system, the “pay attention” signal or “alarm” after a strong retrace that you’ve witnessed, is the SP crossing above the yellow 8ema. Now a really bullish move is when this happens on strong volume but unfortunately we haven’t seen that yet. Therefore from that knowledge we would wait to see if the SP wanted to test the median level.
This is why I mentioned that the current price action was a strong signal that selling off was finishing which is an important step in reversing a downtrend but I wasn’t that excited about an entry as the volume just doesn’t give me confidence therefore I’d be waiting for confirmation.
But yes Pocean, from here you want to see an attack on the median and if successful then it becomes bullish above that level.

Look it’s been a massive downtrend and it takes a bit of turning around, you really want an entry when it’s in a confirmed uptrend, otherwise your just trying to pick the bottom and that never ends well.

Keep working on it though mate, it will be well worth your while.

All just my opinion.

Cheers.