transfer from general thread for correct archive
a number of unsustainable news driven breaks over the years indicates caution.two years of daytrades in high percentage tic regions.
This time it has a mean balance at 13
this is clear in the equilateral triangle pattern
It shows a fairly clear TA pattern bounding breakouts
this could still break either way. It is still rising from oversold after the savage retrace. overhead resistance are the recent highs...It can and will be easily manipulated by daytraders but 13 should be firming as a theoretical stoploss
john
get back if this isnt clear,
-
16/06/08 10:10:53 PM (View) <a href="#" onclick="javascript:history.back();" class="hlnkGreen">Back Post Reply Options:
The SparklerPost #: 398496 In Reply to msg: #398483 IP: 202.72.xxx.xxx Sentiment: None Disclosure: Stock Held Views: 41 Hi madmacs,
Not questioning your TA abilities in the indices - I think your pretty spot-on in analysing the indicators you use.
Though I believe TA on specs is a waste of time personally, cheers for the chart anyhow. Analysis of your charts tell me as the momentum and stochastics indicators find equilibrium the price is actually holding 1.3.
Given the number of shares on issue and the volume traded during the 'breakouts' - your 'theoretical stoploss' seems to actually be a dual support&resistance level. To me thats a bullish signal given CFR's fundamentals.
The fact that CFR is consistently now trading the 1.2-1.4 range tells me more and more traders/investors are choosing to hold.
The problem with charting specs is that they give you a buy signal after the price has shot up 100% while your oscillators are off the scale- ie giving you mixed signals.
That can mean missing out on potentially massive gains. With bluechips and indices, TA charting is useful since swings of either 5-10% can trigger buy/sell signals depending on your indicator values but then again most TA'ers use the same indicators/values and most fund managers know this.
But keep the charts coming madmacs. I'm keen to see what signals they give when CFR sp movements occur."You may have everything or you may have farkle - but at the end of the day you leave just a Sparkle" (The Sparkler)16/06/08 10:32:47 PM (View) <a href="#" onclick="javascript:history.back();" class="hlnkGreen">Back Post Reply Options:
madmacs
Post #: 398500 In Reply to msg: #398483 IP: 210.1.xxx.xxx Sentiment: None Disclosure: No Stock Held Views: 41 Hi Sparkler
what a terrific criticism and so well constrained when you are obviously sitting on a fundamental bias.
But by no means dismissing the view, the simplicity of the chart is deliberate and highlights the obvious equilateral pivot point, there are missing momentum and volume indicators
and one can tighten up moving averages which can virtually have zero lagging giving more scope to using intraday turns.
anyway thanks its an interesting point
these high percentage tics are hard to chart and bigboys will have their way,so I suppose 13 is a bit tight and a looser stoploss means a smaller sized parcel until the trend becomes obvious and smooths out.
cheers
john
16/06/08 11:13:09 PM (View) <a href="#" onclick="javascript:history.back();" class="hlnkGreen">Back Post Reply Options:
The SparklerPost #: 398504 In Reply to msg: #398500 IP: 202.72.xxx.xxx Sentiment: None Disclosure: Stock Held Views: 13 lol Always a pleasure madmacs. Good to have ya back with us! "You may have everything or you may have farkle - but at the end of the day you leave just a Sparkle" (The Sparkler)
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