Originally posted by beisha
Well Cabbie, it was a drawn out affair but you finally now acknowledge that Max and others were on the money in the first place, a break of 29 is bearish, now correct me if i am wrong, you dont deal with candles, most charting folk use candles and there are pivotal candles that suggest reversals, what does a line bar suggest for you? Just curious.........
Anyway, as we speak 5 trades for a total of $18k, we all know volume is king and as we enter the pivotal support at 28/9, doesnt bode very well to stay, does it?
RSI and MACD look sick, the only ray of sunshine is the slow stoch which has poked its neck out from the over sold territory.
Where is the news???
Help!!!!
AIMHO
Hi
@beisha - most charting folk post a chart to discuss instead of being somewhat wordy, perhaps you could go down this path and show me some of your thoughts in a chart..?
i.e. What is a "sick" RSI and MACD ? Are you talking about oversold or overbought or perhaps even a divergence?
I don't have a problem with chartists arriving at similar support and resistance levels, it reinforces our skills as a group if there is consensus.
If you are struggling with my presentation of OHLC bars then that is none of my concern - it is only a presentation choice and I'm comfortable with both, if you can't understand a pivot point using OHLC bars then you won't understand one using candles either.
I'm not sure what "news" has to do with discussing a chart nor "5 trades for $18k", maybe you could take that to a more general thread. I will comment though that anyone using a slow stochastic in conjunction with an RSI is effectively wasting their time on either one or both indicators or doesn't understand their application.
I also think you might be getting pivot points confused with pivotal support - anyway your chart when you post it will resolve that I hope.
Anyway, post a chart, I'm always happy to, as you say "Help!!!"