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TOPIC: Charting - A Noobs Journey

Charting - A Noobs Journey 07 Mar 2014 09:40 #1

  • Shotry
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Feel the same RC, it's an illusion, but it's an illusion that sufficient money/individuals use that it creates it's own islands of reality in an otherwise chaotic world.
All it takes for the triumph of evil, is the silence of 'good men'
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Charting - A Noobs Journey 07 Mar 2014 08:15 #2

  • diver993
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WD,
Welcome to Chartsview, where we are civilised enough to want to see everyone win :)

First advice. When posting a chart always try and post a link to go with the image and make sure, when you save your chart, you do so in a big enough size so that the 'optically challenged' have a chance to read it - I would suggest something of the scale 1800 x 1112. I only chose 1112 because it's 61.8% of 1800 and I'm openly obsessed with fibonacci numbers...lol!

Second - charts come in many formats and varieties. Some love all kinds of weird shapes like 'rounded-bottoms' and 'cups and handles'. These remind me of women I once knew, and great nights on the town but, if they mean something to folk, then great, use 'em! Me? I like fibonacci percentages, Elliott waves and supports and resistances. You? You have to work-out what works for you then stick with it....until you find something better:) All I'm saying is, there are lots of different ways to describe the same thing...just work-out your own translation.

Third. We all need help with something, so don't be afraid to ask! Me? I'm ok with analyzing charts but rubbish at trading. We're all learning;)

As for Barc; I'd watch the daily RSI for a break of 52.57 then check the price is below 277.40: this should be a fair indication the strength and the trend has changed from the downward direction it has endured of late.

Enjoy the BB!

Diver
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Charting - A Noobs Journey 06 Mar 2014 23:41 #3

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my two pennies worth...

charting is just an illusion or randomness ..... until you get the hang of it!

try a demo account, practice on charts and develop your own trading strategy before playing with real money

all the best
dyor
redchilly
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Charting - A Noobs Journey 06 Mar 2014 20:34 #4

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Hi All,
I joined Chartsview a couple of months ago now and i'm really impressed with the site. Especially the members, some of whom i've come across from iii, but all seem really welcoming and happy to help.

Something Jackozy said the other day really resonated with me and it was something like "if i follow all your trades without learning the set up, i'll be rich but still stupid!". This from someone (J) that in my opinion has expert knowledge already, was very humbling to read.

So i've decided to start posting up a few charts, hopefully get some feedback and generally trial an error my way through to hopefully learning these skills for myself.

First up is Barclays. I think its forming a triangle ready to break out. Looking at previous gap support 248p seems to have been visited a few times and bounced off. A break of the diagonal resistance line would be what i would wait for now to enter long.

Any feedback more than welcome. Would gap support be price after gap up or before? have i got my resistance line correct?

Thanks in advance for any help
WD
Barclayschart.PNG
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