weekend charting, page-3

LuckyV
What are your thoughts on the charts you mentioned, I would be curious to hear your opinion too

Heh All

I just wanted to share something which i think is valuable no matter what the market or hype in the market may be.
You all know I love ranges and this week I though I would share an experience I had with EXT

The first chart shows a possible move into a buy and those repeating ranges up and down. I then look at the average daily range of EXT and note that its 36 cents. So thats where im looking for an entry combining the speed angle down and the range of the day.



Chart 2 shows the completed trade

The opportunity to buy is also knowing that strong support is at 700 from previous resistance and support prior to the top and the 195 EMA is coming through there as well. If the market had gone lower the next day ( it didnt ) I had comfort in knowing that the 700ish would hold.




I will share my QBE trade from earlier on in the week later, but wanted to share one of my others which clearly shows the importance of knowing your ranges and avoiding the hype.

I will not have alot of free time for charting this week, but will share my thoughts on the indexes.

Regards
Rob