Ramunia is walking along the top Bollinger Band today, with one Parabolic Sar signal already appeared below today's white long candlestick, which indicated a buy signal, with a higher volume as compares to the previous days.
However, the RSI of this chart shows an overbought signal of 82%.
Will it be coming to a good closing today and continues its upward movement?
Let's just watch and react accordingly.
Just fyi, O - 0.41, H - 0.44, L - 0.41, C - 0.435
And had touched Fibo 61.8% before lunch closing earlier.
Resistance - 0.445 - 0.47
Support - 0.42 - 0.41
Announcement :
One of the director acquired 1mil shares yesterday @ price of 0.399 and 0.40.
Looks pretty overdone to me.
ReplyDeleteSideway possibility is the best case from what I see.
By the way, your chart bit messy la... how many indicators you want to use? :P
This goes on, you ll beat my previous record of having 26 indicators in total for one chart. Haha!
Ha ha ha..
ReplyDeleteErr... What would be the best indicators to use then?
I think trendline is good, fibo is good too. and horizontal resistance n support levels lo.. :) and of course volume and Q's while trading session.
the parabolic n rsi just put it there only for ppl to see.. hehe.. i dont use those as main tools.
Hehe, if dun use parabolic sar and rsi, better remove. No need be influenced by it, unless of course u use them.
ReplyDeleteEnd result, you get a cleaner chart, clearer picture = easier and more decisive decision.
Yes agree. I tend to forget to remove em always. I use that to look at the current levels, whether is it too overbought / oversold. Becoz once you are already into the counter, i suppose we have to look at it too, right?
ReplyDeleteOtherwise, do not know whether is it enough, whether to exit or continue staying put and all? Though overbought already price can still linger around the level and not fall with strong support. I guess VSA is very important, however i'm not familiar with it.
VSA is another different beast which is difficult to master.
ReplyDeleteI noted you always speak about volume. I can see the interest there.
But question - of Price, Volume and Time, is Volume that important?
What happens if one is able to master only one of the 3 aspects - which one would you choose?
Volume is definitely important because it tells and at the same time showing you the demand n supply, which could drive prices up or down, isn't it so?
ReplyDeleteErr.... If i do not have a choice i guess i would be choosing price then :P
So, what's next then? More questions or answers for me to learn further? He he.
It feels like i'm going back to study again now.. Ha ha ha..
LOLz...
ReplyDeleteIts true a lot of breakout with volume works better. But then there s a lot of breakout with not much volume but it works as well. After a while, I gave up on volume already.
If you still want to use volume, perhaps use it in terms of comparison with its Volume average. Will need to do some volume study to see what roughly what works.
But if you master Price alone, its more than sufficient to make monies, in comparison to Volume mastery.
Then i would wanna learn price first. What is it actually about? Just purely looking at the price movement, to buy on dip and sell at next resistance?
ReplyDeleteIs this all about prices?
For eg: We know that if counter A previous low was at rm 1, and currently is at rm2. So if it is downtrending, we shall wait and see at what price it stops at? whether is it on support line or will it continue to move lower to rm1, previous low? And then we enter at support level from its previous historical chart base on the price? What if we enter at support then it continues to move lower?
Will we get out or average down?
But if its a good fa co, then it should be fine, if u do have the extra cash. Otherwise, we still have to cut loss, i suppose.
Ah, you re confusing TA with FA also...
ReplyDeleteThen what is this extra cash thing? Hmm jumbled up. :P
Like this, for me,
1. I trade with ONE system only though I am familiar with many different methods.
2. I use charts alone and do not bother about FA simply because FA information available to public is always too late.
3. Trading funds is always extra money :P
In my method is simple -
Stage 2 uptrend, LONG. Cut loss if assessment of Stage 2 proven wrong.
Stage 3 distribution- Close LONG position. Reenter LONG position if assessment of Stage 3 is wrong.
Stage 4 downtrend - Short. Cut loss if assessment of Stage 4 is wrong.
Stage 1 accumulation - Close SHORT position. Reenter SHORT if assessment of Stage 1 is wrong.
Look at this link - excerpts from the Stan Weinstein book
http://books.google.com.my/books?id=vcj8VCPvSPoC&printsec=frontcover&source=gbs_ge_summary_r&redir_esc=y#v=onepage&q&f=false
Page 11 will illustrate the concept
good info! I now understand what u meant now by the stages. :P
ReplyDeleteLet me save this link first. Thank you so muchie!! :)
Go buy the book :P
ReplyDelete