Day traders' weekend lounge July 16 - 18, page-76

Hi @Jnnl

Thank you for taking the time to provide your view of these charts, appreciated.

SCU - I'll keep an open view on how the bearish engulfing behaves in the next couple of days. Always a danger I suppose with TA that we may see what we "want" to see in the charts rather than seeing what actually is happening, very difficult to have an unbiased view especially when you have a position.

I never managed to use 1hr charts (seen some using 2hr and 4hr too) productively, always have a 5min/2min/1min chart on one side and a daily on other side. I take your feedback of looking at lower time frame chart if the higher time frame chart is not clear/decisive. Is it right to say that

a) if the lower time frame chart is showing weakness, then wait for confirmation or turn around even if the higher time frame chart is strong? and vice versa
b) it doesn't make any difference if the candles in the lower time frame chart are separated by different trading days and trading conditions e.g. with SCU the ND candle appeared on a separate day when there wasn't as much momentum/volume as the previous day

Apologies to anyone who find my questions silly/annoying, trying my best to use the quieter after-market/weekend period for these.

One more chart that I found very strong - FEX. Always bouncing at the touch off the 8 EMA, great for anyone with large dollars to play with and great FA too with ironore ripping and that high cash pile building each quarter.




hello @hazyg,

to be honest, most of the trendlines I drew and MAs I added were from other TA experts here, I just plugged-in my incremental bits there. So, I can't take much credit

every little bit of suggestion helps, especially considering everyone thinks differently, please keep them coming and I'll do my part too.