I actually looked into to charting theory a while back and the conclusion I came to, was that most of it is bunk.
I do like the Heikin-Ashi candles, as they make Doji candles better in my opinion, showing more clearly, buying and selling strength (and basically measure emotion on the stock), as well as some of the indicators.
Everybody has their preferences though.
It's worth noting, that I once read how a good chartist, if allowed their own choice of indicators and time scale, of an identical chart, can provide both a bearish or bullish argument, merely by changing them.
The other big flaw in charting and gaps etc, is that opening and closing prices are often manipulated (especially on a stock like BRN), that's not to mention, all the other manipulation, shorting, bots, pro traders etc, that happens during the day.
This is why intra day analysis, is more important, if you know what to look for.
All my opinions only.
GLTA!
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117 | 3652569 | 0.150 |
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