weekend charting 14th-16th may, page-59

sharks - I've often wondered about that closing versus low theory. On short term trades I use lows for the sentiment factor, ie if someone was willing to sell it at a new low then there's still signs of weakness. Of course, this can be overridden by thinkgs like stops being hit etc that create what I'd say are "artificial" sentiment. But for longer term trends it certainly cancels out some of the noise.

golds - NMS isn't for me as I don't like to trade anything in an obvious downtrend (NMS well below the 150SMA and still falling IMO). But there are exceptions to every rule. Are you trading it because it's a "bargain" or because there has been some sort of fundamental turnaround in why it would go up?

ADU on the other hand, very nice chart. Beautiful consolidation and breakout.

In the short term it looks like it will pause around the resistance of 57 (I think this because the indicators are backing up the trend channel) then after testing it possibly retrace to test the solid support around 50. If it does, I may take any entry myself.

I don't like trading breakouts unless I know fundamentals that may continue the run. I'd sum this up by saying if you're on, hold, if you;re not, wait for any sort of a pullback then a continuation north and get on.

Can you tell us any more about it please or point to a particular post on ADU thread perhaps?