Another look at RBS

barjon

Legendary member
10,679 1,797
Time for another look at RBS.

there's a lot happening at the 1515 - 1530 level with a firm
support base established - via the tails of hammers on 14/4
and 21/5 the sept lows and the bottom of the recent congestion
area; and fib 50 support.

It retreated from fib50 resistance in october and having explored
higher ground on Thursday and Friday from a 3 week congestion
band it stalled on both occasions at 1614 and retreated from the
new fib50 resistance. Nonetheless it's holding just about at the
top of that 3 wk congestion band.

A further slip to around 1580 and there may be 40 short points in
view? Conversely, a hold above 1614 might see 40 long points?

jon

ps sorry about poor quality of chart - haven't got this posting
quite worked out yet :rolleyes:
 

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ZigZag

Active member
123 0
barjon. RBS is one of favourite intraday trading share. I see you use sharescope. Consider superimposing a Regressional Analysis channel onto the graph. I use two time frames, 10 Day & 5day both set at 1 standard deviation. I will be surprised if you cant devise a trading plan from the info. Regards.
 

barjon

Legendary member
10,679 1,797
RBS heading south?

After Tuesday's bearish candlestick engulfing pattern at Fib50
resistance is RBS due for another look below 1550?
 

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