a close above 34, names.
mitta is an intraday TAer. I'm an End of Dayer a much lowlier ta exponent.
I set the parameters of a trade /
with this one is the TA resistance at 35/36 giving a buy at 34 a reward ratio of 5%ish tops if 36 can't break.
yet really to allow some movement intra day one would have to set a 30.5 stop loss a 3.5 10% loss that is unacceptable against a 5% gain.
now mitta, and the heart's day traders would have a 34 stop loss and going for any intraday 'challenge' of 36 resistance and get 5% on say $20grand $1grand from this just one of maybe 5 set ups entered that day.
Do you follow,names little? It's all in probabilities and fast decision making based on 5 minute charts and particular volume analysis. The Aim is a 50% success rate earning more than your 50% gone wrongs.
Anyhow I'm an end of dayer. It's much more sedate and frankly within my capabilities. I'll never be a Gun,driving a mazerati and living on Sydney Harbour with a trophy wife. I just ain't aspirational,motivated,ego driven for it. I'm jaded and take it half empty and happy to do so.
ohh it's all too complicated/ I'm just commentating on the points of interest in the Graphite Sector and how it's affecting various ASX listed stocks and then how the mechanics of the market is on the chart playing the ShareMarket Game for REAL MONEY.
I sometimes think we get a lot of posts from High School Kids doing Accountancy or even Calculus/ Tech Drawing or some dang thing and they're top 100 in that Comsec Paper Trading Comp and think they know a thing or two.look at how they're going on paper. That hara bloke strikes me like that.
anyhow got better things to do
in brief trade over 34 is a textbook entry signal.
but an entry signal to maybe only a 5% reward because of resistance
you just have to form your own opinion about resistance/shmismess TON is on Thunder Road storming for $1 by Xmas toot toot all aboard rah rah have a dream it's in the stars rah rah
gotta drift fading. [which is also a dice game term on a par with shorting]
so faded ain't so denigrating being a metaphor for a gambler/player. better than pizza the sustenance of a computer nerd.
TON Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held
