Learning Technical Analysis and its Practical Application

[willoneau]

I can see the VC back on 29th, (CIA) and the close below on 25th june

 

[tech/a]

I’ll
Post my opinion before open tomorrow
W —— partly

It actually ended up stopping me out
Look over the last 30 or so bars

I'm not leaning either way something is happening and Ill follow the analysis.
The thrusting low bar and yesterdays bar are interesting for the Bull's case.
The lack of range with volume UP is interesting for the Bear's case.

 

[tech/a]

Some scenarios.

(1) Wide range (3 or more times yesterdays range) High volume out of the V/C current area higher --ok
(2) Average volume out of the range and average to high range--better but will need volume and range soon.
(3) Inside day or in the V/C zone on High to very high volume --undecided Bull or Bear
(4) Wide range High Volume out of the V/C area lower --- Very bad
(5) Average range and average volume out of the V/C area lower--bad.
(6) See 3

Now sit back and watch something else happen!!

 

[Boggo]

Maybe this is slightly off topic, apologies if so.

This weekly chart of ASL displays nearly all the elements of my Amibroker stock scan formula (the pattern, breakout, volume and MACD).
Works well for me but I would be interested in your comments on this particular weekly chart tech/a, in particular the last three weeks ?

(click to expand)

 

[tech/a]

Trading tonight Boggo
Might get a chance
But will at some point.

 

[tech/a]

Trading tonight Boggo
Might get a chance
But will at some point.

Like it
Like it a lot.
DAILY CHART

 

[Padowan]

Like it
Like it a lot.
DAILY CHART

View attachment 95877

Looks like you picked ASL from the charts perfectly @Boggo, @tech/a with the stock trading around 2.17/share currently. Looks like some huge volumes since 30 Aug and a couple of substantial share holder notices.

 

[Garpal Gumnut]

For those new to Technical Analysis there may be an opportunity to learn in real time daily from a stock that has just been demerged to go it alone on the ASX.

It is ASM, formerly a part of ALK. There is no need to look it up, but I would suggest to observe price action.

It is three days old, 3 bars on the chart at 12.35 pm on the third day.

What is the trend.
Are there trend lines.
Any evidence of support.
Where might it find support
where is resistance.
Would you buy it.
Where would you put a stop loss.

Perhaps @tech/a might comment at some stage.



gg

 

[tech/a]

Not a lot to work with GG

All we have is Bar Analysis and Volume.

What is the trend.---- Down
Are there trend lines.--- not on this chart but a 5 min chart will show a down trend
Any evidence of support.---- no
Where might it find support----unknown from this chart
where is resistance.----- Unknown again from this chart
Would you buy it.---No But you could have sold it short.
Where would you put a stop loss. For a short trade at break even currently.

Analysis.
Bar one.
Traded off its highs so looked weak.
Bar 2
Weak inside day on average volume finishing on its low.
This indicated an indecisive day.
Bar 3
Broke lower than the last 2 days with volume above
Friday already. This currently looks weak.
But the book will have a few more pages as time goes on .
A lower time frame chart would be handy if you really had to trade it.

 

[Garpal Gumnut]

Not a lot to work with GG

All we have is Bar Analysis and Volume.

What is the trend.---- Down
Are there trend lines.--- not on this chart but a 5 min chart will show a down trend
Any evidence of support.---- no
Where might it find support----unknown from this chart
where is resistance.----- Unknown again from this chart
Would you buy it.---No But you could have sold it short.
Where would you put a stop loss. For a short trade at break even currently.

Analysis.
Bar one.
Traded off its highs so looked weak.
Bar 2
Weak inside day on average volume finishing on its low.
This indicated an indecisive day.
Bar 3
Broke lower than the last 2 days with volume above
Friday already. This currently looks weak.
But the book will have a few more pages as time goes on .
A lower time frame chart would be handy if you really had to trade it.

Thanks @tech/a

I'll give it five days and post an hourly.

gg

 

[rederob]

Not a lot to work with GG

All we have is Bar Analysis and Volume.

What is the trend.---- Down
Are there trend lines.--- not on this chart but a 5 min chart will show a down trend
Any evidence of support.---- no
Where might it find support----unknown from this chart
where is resistance.----- Unknown again from this chart
Would you buy it.---No But you could have sold it short.
Where would you put a stop loss. For a short trade at break even currently.

Analysis.
Bar one.
Traded off its highs so looked weak.
Bar 2
Weak inside day on average volume finishing on its low.
This indicated an indecisive day.
Bar 3
Broke lower than the last 2 days with volume above
Friday already. This currently looks weak.
But the book will have a few more pages as time goes on .
A lower time frame chart would be handy if you really had to trade it.

Here's my non-technical take, based on a 5-minute chart:

Definitely in the "wait and see" category right now.

 

[tech/a]

Great chart
There is one glaringly important bar
You can’t help but see it.
It’s clearly a VC bar and has held as an established
Near term bottom with a test.

your right in my view basing.
Watch and act if you have to trade long.
The hourly may be a bit long a 15 min chart maybe
Clearer.

 

[Garpal Gumnut]

Great chart
There is one glaringly important bar
You can’t help but see it.
It’s clearly a VC bar and has held as an established
Near term bottom with a test.

your right in my view basing.
Watch and act if you have to trade long.
The hourly may be a bit long a 15 min chart maybe
Clearer.

I believe I see it on this 15 min. Bar 13 today. Highest volume today and a test later.

 

[tech/a]

Thanks for the chart GG

Sadly there isn’t anything of interest in the 15 min chart
So this makes the 5 min chart less important

Really a case of nothing to see here!
Support is weak at best.

 

[divs4ever]

Technical analysis for beginners: ChartWatch Primer​

Technical analysis for beginners: ChartWatch Primer

#asx #asxnews #trading #investing #technicalanalysis #stocks #shares #stockmarket #sharemarket #learntotrade #priceaction #trendfollowing Technical analysis is the study of how the price of an asset changes over time. Trend following is a branch of technical analysis that aims to identify and...

www.marketindex.com.au

really basic stuff for those looking for a place to start ( ie just understanding what a candle is telling you )