always learnt a lot of new things from you Patterns. I was not...

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ann888

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09/12/20

02:32

Post #: 49437895
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Originally posted by Patterns: ↑

@ann888 THR 1.8 weekly chart shows price pushing through the 200sma only to have profit takers push price back down below the 200sma. Price is now below the 200sma and below the 8ema but above the 50sma. The drop below the 8ema is a sell signal because the share is not doing what was expected of it. A flat 200sma is a very difficult resistance for price to push through, and THR has tried multiple times to successfully push above the 200sma and failed on every attempt to push through pull back test the 200sma for support and then move higher. This week's candle although incomplete is a break below a pivot low and another reason to sell. It was a genuine Rounded Bottom Breakout that people successfully traded from the 50sma to the 200sma but when they sold at the end of the trade it left the shareprice with nowhere to go but across and now down.
The THR 1.8 daily chart clearly shows price breaking below a series of pivot lows and for this reason alone the share is a sell and not a buy even though the colour of the last candle was green. It is below the 8 ema which is a sell signal. It is below the 50sma when until a couple of days ago everything was above the 50sma. The 8ema is about to cross below the 50sma which usually means significantly lower prices. There is a risk that price will head down and test the 200sma for support now it has broken below the 50sma,

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always learnt a lot of new things from you Patterns. I was not very confident with THR and with your explanation, now I can make my mind. I like using sma and ema which I learned from u and I have to say I made some money from using those. Thanks Patterns for your charts that u put on every night and I learned a lot from it.
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