pretty brutal dump today...Just wait for support to be found...

First 130 Last

Share
Profile

Follow
tgk

129 Posts.

36

10/06/21

14:12

Post #: 53769764
Share

Originally posted by slick: ↑

Haha, well we had to panic buy a pellet load of toilet paper so we'll be fine now!!!

Hey great work there, you're analysis on the important stuff is solid, so many times we try and complicate TA with fluff IMO. Yes, I agree, any of @W3hunter posts are well worth going over and learning from.

So, here's my overview of the daily. Yes we have broken out below trend which is a shame but it happens so we reset. You can even remove that line from your chart now. This may sound simple and others may have a different view but when this happens I always revert to horizontal lines of support which is at 9 cents. Don't need any others as we can see the 200EMA lurking there at around 8 cents as clear support. Yep, as expected since March's spike, volumes have reduced. Always going to happen until new news arrives IMO.

So, where to from here? Traders would have probably stepped away for the short term and yet there have been some opportunities to grab pips this week and it's ranged pretty well.
Buddi, on your lower time frame charts, I recommend you put an 8 and 20 EMA on them and get to understand there movements. Will really help you to not get shaken out of trades too early and is a great combination for entries especially when using a 1 and 5 min charts. Well worth spending the time drooling over charts to get you your head around it.

For those committed to the program ahead, (me) then it's been a chance to put a few more away on any weakness. We've seen many companies in this sector perform really well on news lately so hopefully our time will come shortly.

Cheers.

Expand

pretty brutal dump today...

Just wait for support to be found (hope it is soon) and then hang on for fundamentals to trump the dump?

RCP Price at posting: 8.5¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply