RAC - Charts & Price Action, page-15442

Nice job, keep doing what you’re doing as you will benefit greatly in the long run.

Can I just add a couple of points for you to consider and may speed up you’re learning curve.

1, Using line charts is great and gives us certain key points but to optimise what you can gain from bollie band charting , I’d be recommending using candles because the wicks are very important. Lines charts only give daily closes, not the price action during the day. So many times an SP will wick down to a lower bollie or a median line or even wick up to an upper bollie and come back down. That action is important to bollies which you can’t see using lines.

2, I’m not that good at explaining things so I must have mislead you when you posted that I said it was bullish for the SP to approach the upper bollie. Can I adjust that thinking a little bit. I believe the SP is showing bullishness ( did i just make up a word?) once it continues trading with the zone between the median line and the upper bollie. Even better if it stays above the 8ema which I use for a fast indication of momentum. So yes, it is bullish if the SP is up tagging the upper bollie but there’s just a little more to it than that.

But please keep at it and keep posting how you’re reading it. It’s makes us all think and there are plenty of really good chartists willing to share their experiences.

Cheers.