Not many charts on this CHART thread. A fair bit of “chart bashing” when I started to read todays posts. I can’t understand why people get so agro about TA and charts, even when the SP under consideration is going up strongly like 4DS is. Given that, I was a bit reluctant to post another chart today but I think a good rule that HC could enforce is that there is a least one chart post on each Chart thread page. So here’s an updated 4DS chart with a few question readers could ponder over and maybe answer.
View attachment 1252835
Comments:
The current impulse move’s duration is one day short of the first impulse move.
The current impulse move didn’t quite make it to the 13c target, but came pretty close at 12.5c.
The stochastics (cycle indicator) are close to the overbought level.
Momentum has risen quickly but now is levelling off.
Questions:
Is the current impulse move over/finished?
Why would the move stop and then retrace?
Does the Volume traded over the last three days give us any clues, and how does it compare to the Volume traded profile at the end of the last impulse move?
Is this is a short term retrace, and if so what do we need the indicators to do in order for a new impulse move to be signalled?
At what future SP price level would we need to reassess any long positions held on 4DS?
No answers here, just questions. The sort of questions I ask every time I look at a chart.
p.s. My "Buy" sentiment is a long term sentiment. Short term I'd need answers to all the above questions before I would be willing to add to my long position.
