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ASX
12 years 8 months ago - 12 years 8 months ago #6500
by remo
This is approaching solid support.
The reason im saying solid support is theres 3 levels of support together.
You have the 38.2 fib level,Horizontal support and the trendline . All 3 just so happens to be at the same level(4777) so a perfect trade for a first attempt basis. This level should not break on a first attempt.If it does then a bigger fall will follow.
Stops are a must as always and ill put them below 4750.
dl.dropboxusercontent.com/u/4899609/asx5thjune.png
The reason im saying solid support is theres 3 levels of support together.
You have the 38.2 fib level,Horizontal support and the trendline . All 3 just so happens to be at the same level(4777) so a perfect trade for a first attempt basis. This level should not break on a first attempt.If it does then a bigger fall will follow.
Stops are a must as always and ill put them below 4750.
dl.dropboxusercontent.com/u/4899609/asx5thjune.png
Last edit: 12 years 8 months ago by remo.
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