TA Perspective, page-54

First 54 Last

Share
Profile

Follow
myASX

6,926 Posts.

515

19/03/16

19:50

Post #: 17319312
Share

Originally posted by nine lives ↑

I have been studying the 1PG chart today and I have decided that if Friday was not a low then I will walk backwards from Brisbane to the Gold Coast with no pants on. There was something about the spiky look of the highs and lows of the chart that prompted me to have a closer look at time. If anyone has been around HC long enough you may remember a poster called Yogi_in_Oz (God rest his soul) who maintained that chartists only really ever considered half the chart (price) and ignored the other half (time). Some of his stuff seemed really weird to me at first but he had an uncanny strike rate so I went from being a scoffer to disciple.

We happily apply fib lines to price but we would not think to do so with time....but why not?? A stock chart has an x axis which is as much a part of the chart as the y axis which contains price information. The max error that the 1PG chart has in any of these ratios is one day. 1 day in a 295 day time frame represents an error of 0.34%.

This type of analysis cannot tell us whether Friday was THE low or whether it will just be the start of a three day counter rally or whether it will be something in between. We will just have to wait and see.

View attachment 157823

Expand

Well get your sunscreen and your rear vision mirror ready, this thing is going sub $1.

I know time and price. If I was you I would draw that graph again but start from when 1PG started the reverse takeover. You will get a different picture.

1PG Price at posting: $1.23 Sentiment: Sell Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

BPH

Australia’s gas crisis is here – and dying coal plants aren’t helping

NATO’s 5% target: Why Almonty Industries’ mega mine and NASDAQ listing are a perfect fit for investors

'Not possible' to port renewable gas: ACCC takes AGN to court

ASX Market Close: Index creeps lower as half-year mark approaches | June 26

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

First 54 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

TA Perspective, page-54

Top Stories

Australia’s gas crisis is here – and dying coal plants aren’t helping

NATO’s 5% target: Why Almonty Industries’ mega mine and NASDAQ listing are a perfect fit for investors

'Not possible' to port renewable gas: ACCC takes AGN to court

ASX Market Close: Index creeps lower as half-year mark approaches | June 26

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

Featured News