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Metalduster

7,793 Posts.

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15/08/19

08:51

Post #: 39998423
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Originally posted by Metalduster: ↑

Gekkko
Its not as easy as that and best you investigate further yourself. As darkstone mentioned its not an easy task to day trade and the return for hours put, in some periods, doesn't equate well.
Initially you will get an adrenaline rush if you have a few winning trades but you'll soon taste the sour side when losing.
Always look at what you are getting yourself into before full commitment. Its like a marriage and that is how you can end up, married to the market IF you let it happen.

I'll give two things to look at and leave it at that for some to pick up the pieces and go from there with info from the NET

Note I do everything manually on a spreadsheet and do not know what is available to simplify it these days. I am just putting up an example of some of what I used. Its probably all done nowadays for punters but its all based on what was done manually in years gone by.

I'll put up the two trading ranges atm and the pivot points for the next trading day. I dont really want to start ticking over your mindset on this stock and influence you in any way but you will get an idea of how the prices are worked out and adhered to (Note I am putting up the basic starting points and do not include FIB or Gann) and Remember GXY is in a down trend.
Pivot Points
Traded EOD on the 28th H-1.27 L-1.215 Close 1.225

Next Trading day
Rounded figures

1st resistance 1.26
2nd resistance 1.29
Pivot 1.235
1st support 1.205
2nd support 1.18

Now the two trading ranges atm
Top and bottom of each price range underlined showing where the trading is atm with 1/8th either side of the 1.24. (break the two ranges into eighths and it will track the shareprices down during the days of trading (not in a straight line). Again I suggest GXY is still in a Downtrend as of Friday. imo

First price range 1.53 - 1.24......................... 2nd price range 1.24 - .98

1.531.275
1.241.21

.98Md

Expand

The last two days (1.27-1.21, ) has trapped a lot of s/t buyers now with the Dow fall of 3% . They become fodder.

Things will get uglier before they get pretty imo

On a side note
Lets see what a40 can provide, one way or the other for GXY. An opportunity? or ..........tough titties!

Md

GXY Price at posting: $1.23 Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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