RSH Chart?, page-29

OriginallypostedbyPatong1

Yesterdaysdojicloseat.16whichisinconfluencewithpreviousresistancethesamezone.Dojiisportrayedtobeaundecidedcandle.However,mustberespectfulofthedojiwhenaccompaniedbyhighvolumeasinthiscase.

Keynumberstodaytousearetheopen16,high17.5andlow15.5whichisalsoagapfrom15.Mythinkingistherecouldbeagapclose,pluspricehasmovefromthemeanandIexpectamovelowerifofferscomeinaround16.

Matchopeningiscurrentlyat16.Thatmaychangeaswegetclosertotheopen.

PriceiscurrentlyaboveallMA's=positive.
MACD50/100tradingabovezeroline=positive
MACD20ema:3-6isextendedandhintsofweaknesstoentrynewpositionsona3-6movebelowzeroline.
SpecialIndicatorisinoverboughtterritory.
VolumeisholdingwellandishighestsinceApril18.
Inapreviouspostwouldliketoseesolidclosingsabove16and16.5.Remainsthesameonadailybasisandpreferaweeklyclosearound16.5


WeeklyChartincompletetillendofweeksoonemustbecautiousanalyzingthischart.AsyoucanseefromWilfranschart,hisweeklyismuchdifferentthanmine.Minehasasellingtailat16to17.5andWilslookmorebullish.Isuspectthat'sduetothetimethepicwastaken.AllthesamegoodanalysisbyWilfran



Keytoanytradingistohaveaplanpriorthemarketopening.Tradetheplan.

"Key numbers today to use are the open 16, high 17.5 and low 15.5 which is also a gap from 15. My thinking is there could be a gap close, plus price has move from the mean and I expect a move lower if offers come in around 16. "

BOOM, exactly what i thought. Closed gap at 15.

i like 13.5 as a buy zone.