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Thank you, I was on the right track. I don't think a top has...

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viperofpitstorm

1,658 Posts.

24

27/02/20

12:38

Post #: 43187380
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Originally posted by sf120 ↑

Thats a tough one, everyone has their own ways. Me i have my own tech which i cant really share, but to give you a simple view:

You can see it on the tech patterns in this case being support and resistance lines. Other simple patterns are Descending or Ascending Wedge

WHats important to understand is these arent just silly lines on a chart, they are infact emotion where rises are positive emotion, drops are negative emotion and a wedge pattern is a pattern where both are getting exhausted leading to a break out

FInally Volume is key

As below you can see the support and resistance lines showing where the risk is (us being top, risk is down)

You can see the volume drying up since november meaning the positive emotion isnt as strong.. Again Risk down.

Add any negative headline or market and you can guess which way it will go

Trade with a good stop loss

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Thank you, I was on the right track. I don't think a top has been formed yet, the MA will likely plod along but agree the negative headline hits a bit harder now.

APT Price at posting: $36.81 Sentiment: Hold Disclosure: Held
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0 Great analysis

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