NEW CRO CHARTING THREAD......TA & CHARTS ONLY PLEASE !!, page-61

Your post seems rather technical for a newbie, so can I assume you are a chartist that forgot to provide a chart ?........

Do you study EW ? I just dont to assume thats all.


The very simple explanation as to why I use a ZIG ZAG indicator is this, I invest / trade in 15 stocks or more at a given time, so its all about the time factor, it gives me the wave count in seconds and is eerily accurate, you should try it sometime, i hardly ever have to adjust it and for a newbie , its an excellent tool to use to get a good entry, so for the newbie, they should be trying to get on the end of the wave 2, 4 or abc post wave 5 down ( marked in red ), of course you dont just hop on willy nilly, you dont chase , just let the downtrend run its course, let it base build, then hop on when you see a lovely long green with VOLUME!

As you can see, with the " minor support & resistance zone ", good base build going on / accumulation, volume has dropped to virtual nothing, so SP just biding time for the NEWS FACTOR.

Once I see volume pick up and the 5 & 9 ema starts to curl up and SP breaks 10.5c, then that will be my cue to top up ( upper green arrow)

I hope this helps

IMO