There are 3 steps to analyse a charts short term moves
1. asses the overall trend for strength,on the Monthly and Weekly chart,(in great detail) using trend following tools such as a mandatory 200 period moving average, moving average ribbons, bollinger bands, trendlines, MACD which ever of these you understand the best.
2. look to see if the Month and Weekly are in unison or not,or if either of these time frames are overbought/oversold this will determin the timeframe for a short term trade.use the same analysis on the short term chart, again with the manadatory 200 mav to see if its in sync with the weekly,
3 once youve formed a view for the short term, remove all indicators and trade the raw price data using vol, candles.retracements, trendlines, etc and being also aware of the broader time frame volatility and targets.
RCH Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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