Just my thoughts, please DYOR and find work works for you. At the end of the day it's your trade and money invested.
Wicks I find are the tug a war between the bulls n bears. I do use wicks for intraday trading, it can be very use full in the 5 or 15min timeframe.
However for trends I find that wicks are not of use really. I prefer solid candles to chart.
Your term "seemed to fit" actually scares me a bit. I do not make trendlines 'fit'. They either do or they don't. Go with the information provided and rely on your learnt skills as a chartist. If you start making thing 'fit' that when (IMO) bad trades start, and you'll then look for excuses as to why.
Back to IMU. I posted this chart (++) two weeks back, it shows the solid candles and I call a spec buuy then. It is taking time to wash out and come true, but I believe now that the charts are saying it is a 'buy'.
Lastly, Horizontal trendlines hold more truth as it is a phychological (and easily visible) historic loss/gain zone.
All the best, doing well mate.
IMUGENE CHART. TA only, page-21969
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Last
4.8¢ |
Change
-0.002(4.00%) |
Mkt cap ! $356.9M |
Open | High | Low | Value | Volume |
5.0¢ | 5.0¢ | 4.7¢ | $2.298M | 47.86M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 1925982 | 4.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.9¢ | 3452098 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 1925982 | 0.048 |
33 | 4297134 | 0.047 |
47 | 3841303 | 0.046 |
53 | 6064000 | 0.045 |
11 | 2329545 | 0.044 |
Price($) | Vol. | No. |
---|---|---|
0.049 | 2620667 | 8 |
0.050 | 2639213 | 14 |
0.051 | 6431004 | 11 |
0.052 | 2071350 | 7 |
0.053 | 418882 | 5 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
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IMU (ASX) Chart |