XAO 0.30% 7,995.7 all ordinaries

I'm not in front of my PC so you'll have to deal without a...

  1. 1,388 Posts.
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    I'm not in front of my PC so you'll have to deal without a decent chart. Most trading setups have the log option and it tends to just be a little button near the y axis. It changes the y axis from arithmetic form, (regular number set) to log numbers which fold the chart up nicely for big rises.

    Generally the same rules apply (trend lines, support and resistance, chart patterns, etc.) when looking at log charts but you can see different things happening on them which is the reason you use them. For example on the Afterpay chart I drew above most of the price action is below the trend line until the end when it moves above it, at that point resistance has become support and that means it's definately crazy territory because the likelyhood of the price action of bouncing off that and moving higher at an ever increasing rate is pretty slim. The Bollinger bands have moved out very wide at this point too so you get an idea of the volatility that is happening.

    In order for it to maintain this height it would need to dip again like it did in April.
 
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