Re charting of LCL, i don't believe there is any triangle that is valid and in my experience you will go mad trying to create something that's not there plus it won't make you any money.
Currently the hourly is the longest time frame offering suitable data to form an opinion on direction.
Support is at .175 and resistance is at .20. If support fails then it's .16 cents. SP seemed to respect the 50 day EMA. (red)
My view on wicks is that they are very relevant to trendlines as they are an accurate recording of where the SP has been. Bodies are an indication of where SP's close and open (yes, very relevant as well). I don't know of any charting technical analysis that would not use wicks in trendlines. When forming trendlines i would always want to incorporate a true reflection on where the SP has been.
Not wanting to come into conflict with The Architect here as i respect his technical analysis and knowledge, this is just my view.
Cheers.
Re charting of LCL, i don't believe there is any triangle that...
-
- There are more pages in this discussion • 570 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
