Hi, thought a new thread focused on Charting/TA discussion separately from general topics may be good for those interested.
I'm just using 1PG personally as a test subject for some TA training and happy to share, feel free to comment, question, correct or oppose as it all creates healthy discussion.
I'm currently holding but also keeping a close eye on these sell downs, believing them to be testing the original breakout.
I've included a daily and 15 min with various thoughts, could be wrong here but signs of a bottom are there as highlighted, if sp Makes a lower low odds are obviously back on the Downtrend but while not touching bottom line DT is weakening
Example below on the daily shows 2 lots of 9 bars, before and after the lowest low. Bears or Shorts have had to work much harder here since the Lowesr Low with nowhere near as much reward for the amount of volume/effort, large sell downs are being soaked up. Previously, when DTrend was intact it took much less volume/effort and sold down easily, this time still holding above the bottom of the trading range, showing strength in comparison, not to say it can't sell down further but won't do it easily
DYOR and GLTAH
Cheers HF
1PG Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
