0007
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Any of you Techno's out there reckon this is a double bottom today....
which way ???
Yes. Based on cycle analysis & eod data to 22 May I would expect 75 (possibly a bit more) point increase over next 2 weeks followed by decline to approx current. Waiting for it to happen - too early yet to commit. At post time looks like today's close price will not yet signify the upturn. All this IMHO.
mmm you could be right (or wrong) lol ... I dont really use TA.. but... I am working on a new set up, and by shear luck it seems that TA support / resistance might fit the entry very well...
0007
what have you based your assumption of a pull back on ?
0007
what have you based your assumption of a pull back on ?
0007
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CXycle analysis and likely support/resistance. Read Hurst on cycles..
fibonelli
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I'd be wary shorting from here because you're entering into extensive historic support between 330-380. Also, daily long period SMI momentum oscillator is -85 which is wildly oversold.
A retrace back up to prior support at circa 444 which is also 61.8% of 384-482 is the most logical upmove if and only if there is confirming evidence that 384 has held.
A retrace back up to prior support at circa 444 which is also 61.8% of 384-482 is the most logical upmove if and only if there is confirming evidence that 384 has held.
0007
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dans_ya_man
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If support at where we are now doesnt hold ( i.e 380 area) I will be looking at around the 330 to buy.
I think it will all depend on the broader markets in where we go from here, will be gutted though if I miss out on a buy here
I think it will all depend on the broader markets in where we go from here, will be gutted though if I miss out on a buy here
0007
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Still too early to act. It will tell us soon what it's going to do.
0007
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If it closes 393 or above then I think it will go to 480-500 region by about 1/3 way thru June. Just my opinion!
dans_ya_man
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Good luck 007, do you have a stop loss in place?
Im not in quite yet as I think there is still more of a downturn to come in the major indices which will drag Barclays down, still looking for the lower 300`s
Im not in quite yet as I think there is still more of a downturn to come in the major indices which will drag Barclays down, still looking for the lower 300`s
went long at 388 yesterday ... As above my success point is 420... when I shut up shop...
If we dont reach it .. I am hedged on my long anyway .. so loss is contained..if there is one..
anyway I am only playing.. but i am becoming a bit more interested in TA as the entry for the shorter timeframe trades.. (I am still talking in days and weeks)
If we dont reach it .. I am hedged on my long anyway .. so loss is contained..if there is one..
anyway I am only playing.. but i am becoming a bit more interested in TA as the entry for the shorter timeframe trades.. (I am still talking in days and weeks)
0007
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TA is for traders, Fundamentals is for investors IMHO.
strongboes
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Personally I am waiting for now, still a little way off on my strategy to go long, could still go either way imo.
dans_ya_man
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I think it all depends how long you want to stay in, could be a good buy on the short term.
When I get in I would like to hold as long as I can, locking in profits with a fairly large moving stop loss
When I get in I would like to hold as long as I can, locking in profits with a fairly large moving stop loss
