Cabmerlo to be honest I’m not a fan of diagonals at all. I’ll use horizontal support / resistance levels as I believe they carry more weight and don’t have personal bias’s within them.
But all that aside , when you include BB’s on your chart then it’s best to just use them. Your chart displays that the SP has closed below the bollie median therefore that brings into play the lower bollie. I’d be working those indicators in the short term as the next level of horizontal support is at around $16 by looking at your chart. (I don’t think it will get there).
You can certainly use a diagonal as an indicator of momentum and I do that a bit but I wouldn’t be using one as a support level but that’s just me. The less things we draw in ourselves the better IMO.
Just my thoughts,
Cheers.
NEU chart, page-1726
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| No. | Vol. | Price($) |
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|---|---|---|
| $15.00 | 8746 | 3 |
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