Hi Menza, I kept the chart plan on purpose. When I first started...

  1. 4,435 Posts.
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    Hi Menza,

    I kept the chart plan on purpose.

    When I first started trading I used indicators and all sorts of crap.

    They almost all, lag price.

    A lot can be seen by a simple OHLC chart, which is my preferred chart, I used candles here because its clearer to view for every one, I can see Candles in OHLC with out needing them.

    Contraction and expansion of price bars tells a lot, it shows momentum increasing and decreasing.

    Support and resistance, support which if you look carefully is there.

    I could add a lot of tread lines and patterns, fibs/ indicators but none of it is necessary if you can read price.

    I mean by just looking at price it would be obvious Stochastic and RSI would be showing oversold.

    Cheers

    Cacoa
    Last edited by Arranging: 17/03/15
 
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