XAO 0.84% 8,552.6 all ordinaries

Short Term Trading Weekend Lounge: 1-3 Feb, page-56

  1. 574 Posts.
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    I would add that it is always worth checking the weekly chart as well as daily/intraday. For example the daily for CDX shows a change of character (volume) with decent price appreciation, which looks good. The weekly shows a doji (indecision) on declining volumes and looks a little extended (far from MAs).

    https://hotcopper.com.au/data/attachments/1427/1427261-79b0ca9b1765f1aa347590a0ae8f920a.jpg


    Also, longer term trend lines are often more significant than short term ones when determining support and resistance. Some are easy to spot, others less so.

    https://hotcopper.com.au/data/attachments/1427/1427263-521cc1045e458f842373f7a349d64af3.jpg

    Other than that, find what works for you and eliminate what doesn't. Be creative - no one has figured out the perfect system yet!
 
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