Well i've traded using charts now for the last 8 years and the last 5 have been very profitable (The first 3 were small loses and where I learnt not what to do). My point of view is that all news is factored into the price and you can never compete with the speed at which the big boys with all their teams of analysts can react. The charts are really just an interpretation of the human reaction to news, fundamentals, external factors etc I look for the big money moving in and I jump onboard with them and in my view the chart movements reflect the switches in sentiment caused by this. Works for me and frankly I couldn't understand a company report if I fell over one. Most of the time I don't even know what the company does when i buy it. All i know is the 3 letter asx code unless I get curious and feel like delving deeper. I bought NDo purley on the cup and handle pattern that had formed and a target price of 27c. Of course I'll ride it higher than that if it goes higher. I utilise my stop losses and allow them to get me out of the trade. Works for me may not work for everyone. Cheers!!
NDO Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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