Hello Ed, OK I called that with precision so far - what do you need to see to call that one as a correct T/A call? We started at 6 - 6.1 on the depth so assume the buy at 6.1 so I need to see a rise to at least 6.4 - 6.5 to justify the sell at 6.4 for a 3 point (5%) return in a few days - if that comes to pass.
But what if a system of T/A can tell you when the rise has finished? This is better than taking a meager 5% on a correct call as one has to offset the times when you are wrong.
Does it have to run 5% straight up which is the annual return on deposits in a bank? I am not being cheeky just trying to set the parameters for a fair evaluation.
T/A enables the kinks in the chart to be straightened out to some degree. After the GFC FML tripled yet my T/A skills delivered a six bagger. I have doubled my money on stocks over the course of a year as they ranged sideways.
Sitting and holding also works - I use both techniques at times at the circumstances warrant.
Very best, CW
FML Price at posting:
6.3¢ Sentiment: LT Buy Disclosure: Held
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