Apparently I left out two points of control and included one in Friday's post that has been retraced so is no longer as important. The one at 4124 now just a plain old volume poc. You can see this by the green letters. The relative prominence is of some importance. Just look for the green letters where the profile is thickest. If an area of concentrated action or fair price has not been retraced then it usually draws attention on any market weakness. So we can put that one aside and add one at 4092 and also take a look at 4070.50 if you're keeping track. The latter point is the last of a three day balance area as well so you'd expect support there. But just above that, there is a low at 4086.75 from Friday 9 April that stops just at the previous day's point of control. Check the third chart over, hopefully you can see it according to the dates. This I assume is classed as revisited, but may be an area that will see some action if the bulls ever decided to get lazy. The low of that day is right on the area where the most volume took place in the previous session. This is an example of what I meant by mechanical market action lately.
- Forums
- ASX - Short Term Trading
- Short Term Trading Weekend Lounge: 16 - 18 Apr
Apparently I left out two points of control and included one in...
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
GML
Gateway Mining sells WA Eastern Montague gold project to Brightstar for $14M – half of that in shares
STX
Strike hands $48.5M contract to Clarke Energy to produce 20x 4.5MW gas engines for Sth Erregulla