The thing about investing and charts in general is people need to understand there's a few things people need to consider when reviewing other peoples opinions.
Are they looking to take profit, looking to top up, looking for an entry.
Are they chasing 10% ROI with low risk, 25% return or bags.
What timeframe are they operating on T+2 trade, short term trade, long term hold?
When you consider a bunch of these factors you are often comparing apples to oranges to zebras as i can categorically say that depending on which combination of the above is true for me fundamentally changes my view of what's a good buy and what not.
View attachment 2800019Daily Pro's:
MACD green strong above zero. (has been a buy signal on the ribbon since august with smaller cycles in between shown on the histogram below the candles
Heiken Ashi (green in good)
Stochastics turned upwards above the midpoint (still an uptrend)
Cons;
Has been on a strong run, will need to pull back at some point (obvious but question is when)
potential gap at 15.5c (breakaway at this stageg but might be filled.)
Strategy;
If i hold the stock, i'm probably still holding on this chart, tentative sell on red heiken ashi, stronger signal on MACD histogram and stochastic cross downward.
If i'm looking to buy; there's still some strength in this chart for sure and could keep pushing upwards so stop loss required. personally think 17.5c looks like first support and then 15-16c range was major support.
View attachment 2800024Pro's
MACD ribbon green has been since august (daily and weekly flick green same time was utilimate entry point)
MACD histrogram green, increasing over the midpoint
Stochastisc haven't crossed and aren;t downwards yet
if you flick the heiken ashi candles still all green (green is good)
Cons
stochastics overbought
View attachment 2800025Monthly
Again,
heiken ashi is good
macd is good
stochastics is good
When charting i think it's best to put in multiple timescales and then ask what return you're after and whats your time frame.
If you consider the monthly and look at that major run from 2 to 32c all you needed to do was buy onthe green candle sell on the red. Easy done. There would have been lots of traders on the hourly daily etc buying selling flicking etc etc and probably doing it profitably so again refer to what timescale your after.
Also worth noting that the monthly heiken was all green until that 30c point.
however if you looked at the S/P movements in the time there's point where it hit 15c and came back to 10c. hit 30c and came back to 20c so if you just played the monthly chart would you have sat back watching 33% erode twice? maybe...
Speaking philosophically i think the best way to invest is regardless of whether you favour T/A or F/A is to have a preliminary understanding of both sides and what drives them it can be favourable to both aspects.
Both investor types have their extreme version which are both pretty ordinary. F/A wise you have the blatant rampers who just spew garbage relentlessly and with bias and no supporting evidence. On the T/A side you have the hindsight warriors. As in they will tell you they bought in 3 days after the price rose (will rarely say on the day they bought) and will told you they sold out at the top (usually 3 days after).
For me, i use the sentiment pretty religiously. It's sell when i sell, buy when i buy. I mean that would have the be ones true sentiment? And i only do this on days i buy and sell. So i personally live and die on my sword and don't get all calls right.
I think people just need to have a little more respect for others views, conversely the extremist versions probably to reign it in.
*Disclosure long free carried from 2017, last buys were at 6c which i again freecarried.
I would personally tip money back in at a lower price but happy with my free-carried holdings.
