wednesday price action, page-57

Mongo,

No BHP entries today. Still scathing after missing yesterdays close :(

To be honest with you ive stopped using stochastic oscillators, so i cant comment on %K %D variance, its been that long ive forgotton how to use it :)

I was suffering information overload when i was analysing my charts so ive binned everything except for the essentials.

Ive noticed when you post your charts that you dont utilise a 'money flow' indicator in your indicator panel.

They incorporate volume into their calculations and gauge the level of money entering and exiting the stock, or buying and selling pressure.

They are a handy tool, and there are a number to choose from.

Example, CMF (Chiakin Money Flow) showed money exiting and decreasing buying pressure weeks in advance of BHPs $50 peak.

MACD, RSI, etc dont use volume. Their calculations are based solely on price action alone.

If you already use money flow then disregard all of the above :))