Should've realised Friday usually is a DOWN day as day traders don't like holding over weekend.
Really big losses on AXE, but still in long term up trend (hopefully)
.
maybe this will make us feel better till next week lol
http://www.barchart.com/opinions/stocks/AXE.AX
Im interested in how people are reading this chart.
This link is really for the mindless (no offense) but----
I see a strong pivot point reversal on volume.
Rthis is going to come off more.
If your still holding then your in for more pain---in the short term.
I have a way of trading runners like this.
Its a simple rule
and works very well.
If a trade gaps up ---makes a new high only to close below the previous days close and todays open
I sell---no exceptions---in fact I sell once trading is below the the previous days close.
You can always re enter!
MOX smashed!
I dont take the link too seriously, was kind of a jest. (hence "lol")
Yes the volume is troubling. More downside to come. A hasty impulsive entrance.
However this is a good breakout as of 8 sessions ago and that .350-.352 level is now support. We'll see if that holds the "short term" in check.
Appreciate the imput TA, sound advice.
BTW, haven't figured out how to apply or 'migrate' the PAINT tool onto the chart (ASX in my case) to draw lines.
any hints?
Down load Paint .net
Then load the chart you want (After taking a pik of it) and away you go.
Dear newanimal
Thank you for sharing your folly with us. We will all benefit from the lessons that it brings.
Let me know if these shares hit $1 in the next year or so.
panik, didn't intend to seriously posture myself here as pedantic instructor to all. Maybe the tongue-in-cheek phrasing and self flagging humor was too dry and lost on you. Was mainly intending to test post a chart and add a little self effacing humor.
good will and prosperity to you
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