TA Charting Thread, page-189

Hi All,
My 2 cents worth from a FA guy
Full disclosure I do not trade stocks but do trade currency from a TA perspective (I typically counter-trend trade divergence hence the charts below) so I look for overbought and oversold situations and trade to daily and weekly pivot points (which I find act as reasonable support and resistance indicators in their own right.
I agree with the, always great, analysis of valvesound

From the daily below, I would have taken the divergence print to see, using Fibs and previous PA, 5.9-6.0 would be my view of the support zone and that coincides with the 78.6% Fib, so happy to see the price retrace and consolidate down here before the next leg up. 



... and the 15m chart, Again we have divergence printed at 6.5 and then a retrace this morning, we have a missed daily pivot at 5.9 and I see this as a reasonable pull back target. I would put a buy order here or slightly below, confident that it lines up with a few different levels of support.

As I say I don't trade this, but do use the methodology to time long entries. Each to there own and I am enjoying the contributions of everyone to this thread. it has been a long time since ACG/CDX has been shoewn this sort of love from the DT'ers. long may it last



Cheers

Charlie