Please comment on this chart if you have time.

[semperfrosty]

View attachment 315379

I presume you are a long-term investor/trader.

You cannot trade/invest when you don't bother to see the
SYMBOL & X axis.
Luckily you have the Y axis.
There are people who don't even see the Y-axis.

You cannot trade a stock without knowing
- the competitors
- which sector it is in


JUICY ZONE
that is the time to trade


GARBAGE ZONE
that is the time
- not to trade
- not to talk about the head shoulder head thing
- not to talk about the double top triple top thing

And if you missed profiting from the JUICY ZONE,
ask yourself
- where were you during the JUICY ZONE
- why you missed the boat

Thanks Max.

I'm not necessarily a pure long term trader but I try to start with the weekly and drill down for an entry.

I'm about to fund a trade account again and trying to add some tools/check I'm not misunderstanding signals.

 

[semperfrosty]

The most recent pattern does look like a head & shoulder (circled part) with triple tops but they are not strong enough to be a reversal pattern and looks more like a head fake. The price will very likely be going up especially with the recent period MA's above the older period MA's.

From the dividing line that @maxinger has drawn to separate the "juice zone" from the "garbage zone" aka congestion zone, we can actually see a pennant chart pattern forming which is a typical consolidation pattern that indicates that the price is just taking a break before continuing the existing uptrend once it moves out of the end of the pennant WITHIN THE CONTEXT OF FUNDAMENTAL ANALYSIS. If there are any new changes in any fundamental factors impacting this security, then all of this analysis of the chart pattern goes out of the door.

View attachment 315392

Awesome.Thanks TheDawn.

The triple top to the left of your circle at very top of the page,once price has reacted significantly to that top is there any rule of thumb regarding the probability of it stopping at that level again?

 

[semperfrosty]

Too choppy

Thanks Ken.

Too choppy[/Q

Looks like the XJO.AX to me.

View attachment 315395
My call is falling to about 7140

Thanks Mick.

So you see the strong reaction to the almost quadruple top plus another turn south at sort of a pivot point to indicate another leg down?

 

[semperfrosty]

Oh great. So should the price go against you, it's the "fundamental factors". Sneaky you.

Cmon Schiz! I know you like your shorter term stuff but I know youve got a read for me! Wont hold you to it!

 

[Frederick Foresight]

Thanks for any insight.

My suggestion is to trade from charts where you don't feel compelled to ask for the opinion of others; the trade direction, if not the exact timing, should be obvious. And while I may have a vague opinion on where this particular market looks like it's headed in the very near term, opinions are like assholes: everybody has one.

 

[semperfrosty]

My suggestion is to trade from charts where you don't feel compelled to ask for the opinion of others; the trade direction, if not the exact timing, should be obvious. And while I may have a vague opinion on where this particular market looks like it's headed in the very near term, opinions are like assholes: everybody has one.

Thanks Fred.

Of course I get your point but id still be interested in an opinion.

For instance,my immediate response to the chart is bullish but the more i look i see a product that has reacted significantly to a triple top,hasnt fully recovered and is perhaps reacting to another triple top or significant level.

 

[SunTrader]

...

BTW I ain't picking on you out of boredom. But you have this habit of regurgitating "would, shoulda, coulda" all too often.

That - especially.

"Obvious" ... is always obvious in hindsight.

 

[SunTrader]

Thanks everyone and spot on Mick,it is the SPI.

Apologies I didnt name it,I thought it might help to attract pure chart based opinions.

SPI?

Yahoo gives a quote of 1.19 SPI Energy.

Next time I suggest you don't crop out stuff if you want a full a complete opinion straight away. Otherwise just provide symbol (and exchange) without chart image and ask what is current outlook.

 

[Frederick Foresight]

Thanks Fred.

Of course I get your point but id still be interested in an opinion.

For instance,my immediate response to the chart is bullish but the more i look i see a product that has reacted significantly to a triple top,hasnt fully recovered and is perhaps reacting to another triple top or significant level.

I agree that the chart looks more bullish than bearish at this very moment regardless of what clouds may or may not be forming. I have no idea what market you are referring to* and, even if I did, I would not know the direction it would take. Further, it is not a moment in time I would likely want to enter. But if pressed, I would rather be long at this very moment than short.

*

it is the SPI.

Oh. okay.

 

[semperfrosty]

SPI?

Yahoo gives a quote of 1.19 SPI Energy.

Next time I suggest you don't crop out stuff if you want a full a complete opinion straight away. Otherwise just provide symbol (and exchange) without chart image and ask what is current outlook.

Apologies,Uncle SunT.

It is an Australian index.

The futures equivalent of the ASX200 I guess you could say.