Cookie Policy

Chartsview Blog

The Latest Blogs from Chartsview

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login

DGE daily 31/05/13

by in ChartsView Blog:
  • Font size: Larger Smaller
  • Hits: 2378
  • 0 Comments
  • Subscribe to this entry
  • Print
2378
Picture
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.
Picture
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.
0
Trackback URL for this blog entry.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Tuesday, 08 October 2024