G'Day Gino,
Indeed I did say solid candles for drawing and also said that wicks and tails are very inportant to see pivot or exhaustion points.
I also mentioned KISS, when slick and I were giving you tips last year. I use 4 effectively trading techniques; 8/20 (daily or weekly), candles, RSI, BB, and sometimes volume. Other techniques can be handy to support you buy/sell zone. One of which is resistance and support. I personally, very rarely use diagonals, as they are just BS points in which people start them and finish them. Not trying to have a go, but even yours starts on a tail, then solid solid maybe next a tail? Also starts half way up the hugh rise that we got last Nov. Which I ommitted on my chart post, look at the 6days of hugh volume that IMU got, it moves the share price, and rids alot of the churn. Note, your Fib is correct.
If I may, please re read my post, what I am saying is that volume has not been supportive of the SP, it is just retail getting excited for what might drop soon, like a PS Ann. With 5 projects underway, one of these is bound to have a PS Ann. I see that 13 (maybe even125 now) is resistance, then it will pause again at 145/15 before it rockets. There are still alot of churn shares to get thru, IMO. Some people need cash at the moment and a spec stock maybe one that people will sell into any rally to eat.
Note todays volume, 37M, is just not enough to move the SP. Some on here probably hold 37m alone, out of the 7B, not alot.
The SP closed at 115, doji, but it really has to hold now. Look at the 8 v 20.
RSI and MACD, Candles not making HH's, etc, there's just not alot driving this stock. I could say more about this, but others will be offended!
Lastly, a tip. Back to diagonals etc. Remove all the ma, diagonals, BB's, etc. I leave candles up, but
@Fid doesn't. Now lean back in you chair, what does you see?
I see HLs (Higher Lows), albeit slow long slog, but they are slowing reaching new highs. We all sit to close to the action and sometimes we all need to just lean back or walk away, like I just did (mowed the lawn, ha). Fid's charts are very simple and I like them for that reason, he does some of the work for me, and I look at my chart in comparison. We haven't made new HH's, yet!! But the action is getting closer to 13.
IMU will have it's day, hence why I am long heads, play with Es.
AIMO, many will disagree, and I don't care as we each have our style and each needs to find what works for them.
(20min delay)