DGE daily 31/05/13
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Here's an interesting chart. Normally, strong uptrends should be bought with appropriate stops just below nearby price supports but this is an example of when I wouldn't buy the trendine.
As we can see, the RSI support trendline from the same price trend has already failed and this can often be an early signal that prices will follow.
As we can see, the RSI support trendline from the same price trend has already failed and this can often be an early signal that prices will follow.
We can see it clearly in this close up view. If it does close below this trendline then the play would be to wait for a backtest of the trendline and go short with a stop above a nearby resistance.
I'll not be taking this but it might make a good observation/paper trade exercise.
I'll not be taking this but it might make a good observation/paper trade exercise.
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