Pretty much BS. I am primarily an intraday trader (except for 4DS & CSL & bl**dy NMT ) - hence the 1 minute charts. I almost never forecast more than hours to days ahead except very occasionally as part of an ongoing discussion with other chartists, or when we are trying to work out a retrace target, If you know me from other stocks - then you will know my up-swing charts are usually right, intraday ones almost always right, the downswing ones (after W5) less so until recently. But when the price hits the upswing target I am out, because the price ALWAYS crashes at some point. It's not "heading for the hills", its a trading cycle completed. Because I work in minutes I can only track about 4 to 5 companies at once and simply can't chart the ones I aren't trading, although I have in the past occasionally done a projection when requested on individual companies.
If you stay in a stock forever you will get done eventually. When I come back to a stock after a long absence it is usually a sign that the stock will rise (or at least that I expect it to rise - eg. both WBT and 4DS over recent months), but I virtually never post a chart without the retrace marked. So if I am gone from the stock during the upswing then it is kind of obvious why. I also always post the charts and targets before I trade them - usually hours ahead - in fact as I work them out. No doubt, if you go back enough years you will find stocks where I have got the targets wrong and was much more naïve in my charting, and like lots of other people traded like I thought a stock could just rise forever, but not for many years now. I will admit, ATM 4DS (which is where I think I recognise your alias from) is causing me some forecasting frustration - so I am not getting that one right ATM ... yet, although the previous round of announcements while it was active I was getting right (but so was everyone else), but I haven't "headed for the hills", there just isn't any point in posting charts non-stop while we wait for the IMEC announcement. Timing is unpredictable on that, and WBT will spin into a similar problem if it decides to take months before the next signing announcement.
I don't really like forecasting doom and gloom, and as I don't short, the trades I do on a falling stock are really high risk, certainly don't think I should post charts that encourage others to take such high risk trades, so If I can't see a turn up happening I am much less likely to be posting - hence I am not currently posting on the Li stocks until the Li price starts recovering.
- Forums
- ASX - By Stock
- Charts
Pretty much BS. I am primarily an intraday trader (except for...
- There are more pages in this discussion • 534 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add WBT (ASX) to my watchlist
(20min delay)
|
|||||
Last
$2.63 |
Change
-0.230(8.04%) |
Mkt cap ! $497.9M |
Open | High | Low | Value | Volume |
$2.77 | $2.78 | $2.62 | $2.894M | 1.077M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 29372 | $2.63 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.65 | 25116 | 27 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 30974 | 2.630 |
14 | 27375 | 2.620 |
10 | 31267 | 2.610 |
15 | 42135 | 2.600 |
4 | 58729 | 2.590 |
Price($) | Vol. | No. |
---|---|---|
2.650 | 18038 | 18 |
2.660 | 6582 | 10 |
2.670 | 8194 | 6 |
2.680 | 17551 | 5 |
2.690 | 10000 | 1 |
Last trade - 15.15pm 13/05/2024 (20 minute delay) ? |
|
|||||
Last
$2.63 |
  |
Change
-0.230 ( 5.18 %) |
|||
Open | High | Low | Volume | ||
$2.76 | $2.78 | $2.63 | 216677 | ||
Last updated 15.36pm 13/05/2024 ? |
Featured News
WBT (ASX) Chart |
The Watchlist
MGU
MAGNUM MINING AND EXPLORATION LIMITED
Neil Goodman, MD
Neil Goodman
MD
SPONSORED BY The Market Online