Welcome to the New Weekend Charting Thread.
Feel free to post any analysis on Individual stock charts, Index charts, Currency charts or Commodity charts.
Traditional T/A, Fibonacci, Elliott Wave, Gann, Wyckoff, or even something more specialised.
Day Trading, Short Term, Swing Trading, Momentum Trading, Position Trading, Longer Term.
Do you have a favourite chart you would like to show others.
Or maybe a particular charting principle you have seen, or would like to learn more about.
Is there a some analysis you want on a particular stock, or instrument.
Ask questions, offer answers, anything to do with charts and chart analysis.
Over the weekend this is a place to share.
enjoy your time in the room.........
No featured chart this week.
-----------------------------------------------------------------------------------------------------------------
Each week I try to look at a particular charting or trading principle-
Previously I posted about a Wyckoff principle called
springs - click here
and their mirror image opposite called
upthrusts - click here
Then I posted about a principle called
bullish absorption - click here
Following that was about a VSA principle called
End of a Rising Market - click here
and then the mirror image opposite called
Bag Holding - click here
Then we considered
Looking for Trades at the Edges of Trading Ranges - click here
and two weeks back we looked an example of a
Potential Accumulation Zone - click here
We have looked at a VSA principle called
Upthrusts - click here
Next we considered what a
Serious Supply Event - click here might look like.
We have also looked at another
Serious Supply Event - click here
Then we looked at trading and
Position Size in particular - click here
Following this I posted some diagrams about
Traditional Chart Patterns - click here
Since then we looked at
Accumulations Zones - click here
and after that was a discussion surrounding
various Wyckoff Terminology and the Wyckoff Schematic - click here
Then we looked at
Consolidation - click here
10th November 2017 we had a broad look at
Volume - click here
17th November 2017 was the VSA principle of
Tests and Testing - click here
1st December 2017 was all about
the Shakeout - click here
8th December 2017 looked at
Reversals - click here
15th December we looked at a specific type of test
the Test in a Rising Market - click here
22nd December was a brief discussion about
stop placements - click here
29/12/2017 was about the
background of the chart and its influence - click here
02/02/2018 was about
Double Bottoms - click here
09/02/2018 was about
understanding Price and Price Action - click here
16/02/2018 was about the trading action which may occur prior to
Price Changing Direction - click here
This week I have not prepared anything, although I could think of a couple of things to write about, I couldn't get enthused.
We have some family drama's to attend to at home right now, and I am also working on an excel project.
So anyway, I was thinking about all the different topics that I have covered above, and thought I could make up a few charts to test the knowledge of the readers of this thread a bit. I think it is important to actually identify certain price action on the chart, and draw some lines yourself. So I made up two charts with a question or two attached to them. I suggest you take a copy of the chart and paste it into Microsoft Paint, or similar software, and draw lines or arrows and comments on it. And when finished save it and then upload it back onto this thread,
and preferably hide the chart behind a 'spoiler' if possible so as not to change the opinions of other members. I encourage anyone playing this game to go back and re-read the topic concerned above, as a brief refresher, before answering the questions. Finally, I won't be trying to trick you at all, so don't 'over think' the exercise (at least to begin with). If this is considered successful, I will do it the next few weeks or so.
enjoy...
So the first question should be fairly easy and is to find the "
Spring" on the chart.
And as an optional secondary question,
where would you place a line to illustrate where price would breakout (there is no actual wrong or right answer here, it may be either a trend line or a horizontal line. I have a preference for how I do it, and will show that in my answer or answers. Also add any brief comments that may help to explain what you are seeing and why.
View attachment 981754
..
..
..
The next question is a bit more difficult (or technical) so go back and read the little piece I wrote on it.
Find and mark the period of
Potentially Bullish Absorption.
And secondly mark the
most important lines on the chart (not every little line, so don't get too carried away, just the most obvious and important lines), so as to make the price action come to life, and make a few brief comments if possible, to explain what you see.
View attachment 981760
cheers
