weekend charting, page-6

Hi key26.

This is one I liked on my first glance through stocks. I don't know what they do but I like it's position in relation to the shaded areas (cloud). You asked about the weekly which I have done in two zooms. A daily chart to show current position and a monthly to show the possibilities.

On the weekly the price has gone above the dark blue and red lines. This means price is stronger than is the last 9 weeks and 26 weeks. The cloud is the next target. The red line is not far away and entry into the cloud might not be to difficult. In the mean time the price level of the red and dark blue lines is always possible. I cross of the red over blue is the next good sign to watch for.






On the daily we have a nice break out. Price is now above alot of R&S. I have marked the brown line with an A. This is priced lagged back 26 periods. It shows that this break out is clear of where it was a month ago. It is above all lines confirming the start of a potential bull trend. I marked the red and dark blue lines with a B. They are exiting the cloud. A great sign and price will kiss them soon. A strategy is to keep your stop loss under these lines and ride the trend. I marked the end of the cloud with a C. This has changed to bull cloud. Another good sign.




On the monthly price has still got to reach the red line before taking on the cloud. The danger is bouncing off the red line (about the same time as reaching the weekly cloud.




It is these comparisons between time frames that I base my reseach into charting. It works on all the time frames down to the 1 min.


As comparison this is the daily, weekly and monthly of ADX








Hope this is of interest.