Australia's largest stock trading and investment forum Australia's #1 stock forum

Hey @Jako64 in regards to the major line after roughly how many...

First 875 Last

Share
Profile

Follow
LeBigMac

706 Posts.

16/07/16

13:59

Post #: 18285440
Share

Originally posted by Jako64 ↑

Good Job Guys,

My chart looks a bit messy now I have written all over it.
I was really just wanting to show where I place the Major line at the bottom and why, and then all the little breakdown lines on the way down.

EDIT- I quickly fixed it - here is the chart with just the lines I was first going to show, with nothing else to mess up the chart or confuse.........

View attachment 206709
.
.
.
.
OK, back to my messy chart now......
Note that the best trades (long or short) often come about at the edges of trading ranges.
These trading ranges (Major or minor), are usually defined by the lines you draw.
When price bounces off of support, or when price breaks out then pulls back and finds support, look for a possible long entry.
Or when price breaks down, then fails to recover at the breakdown line, look for a potential short entry(or get out of your long's, as price is breaking down)

View attachment 206706

View attachment 206707

Expand

Hey @Jako64 in regards to the major line after roughly how many touches/pivots would you consider it to be a major line ?
Upvote

Reply

Top Stories

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

AXP

Tambourah chases gold veins and mineralisation extension with drilling

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

There are more pages in this discussion • 1,584 more messages in this thread...

First 875 Last

SPONSORED BY