nice bit of tree shaking, page-17

Lovecce: that's the daily chart I posted....I like to trade the 60 minute chart..

it's a bit hard to explain but in a nutshell different timeframes are used for different purposes..the longer timeframe gives you the big picture....or the general context but not specific view.

The shorter timeframe ie 60 minute gives more precise data....but regardless of the timeframe ...it's the past....not the future..

it's also important to remember that indicators are just that indicators.....

They are a bit like warning signals. A bit like ok this happened here once before so it MIGHT!!! happen again...

That's a very important aspect of technical analysis most people don't get....

Tomorrow MEO could bolt north or head south...no one knows but all the chart I posted is showing is that when the yellow line crossed the white line in the past the SP went south.....so it's logical to assume that if this happens again the stock will move lower

Honestly, I have absolutely no idea what MEO will do tomorrow but I do have a plan!

Firstly, the stockmarket will always have money making opportunities but if you have no capital you won't be able to participate..conserving my capital is my primary focus but neither do I want to miss an opportunity....

When I am faced with a situation like MEO is in now I usually offload half my position and set a stop at my comfort zone. So I am sacrificing half my profit potential and halfing my risk....

Then I work out what I will do if the price suddenly moves up...

below is the 60 minute chart which I have used to further analyse MEO based on what the daily revealed...but it's only possibilities...

cheers