6 million volume @ 1.5 cents is about 90,000 dollars traded. I would be very wary to jump to any conclusion on such thin (dollar) volume.personally think the MLS break from its base is rather outstanding , dont think i will be entering at this point of its climb tho
6 million volume @ 1.5 cents is about 90,000 dollars traded. I would be very wary to jump to any conclusion on such thin (dollar) volume.
Hi Rockon2,
Can I ask how the TP labels are placed on the chart?
Are they (i) simply added manually by yourself, or (ii) automatically positioned. If its (ii) then what criteria do you use? Highest High/ Lowest Low over x periods, using Zig Zag indicatror (% swings), etc?
Just interested....
Most of my trading is going long or short from breaks ( patterns ) ..
90% are done with preset orders.. Conditional orders...
Once they have been triggered, i then manage them.
This daily chart shows todays break,, and it shows where I had my order
if you can break this done into intraday, you can see where the bulk of orders went to mkt.. ( these come from off screen ) ie C/O's..... not shown
in the dom bid list......
imo above is how the smarts do it.... read it carefully.
I will also leave you with this quote,,, experts close the mkt, dummies open it.
AGO had an outstanding breakout, too late to jump in now though...
Hi Chorlton,, They are part of the package that comes with MA Pro software
charting programe.. They stand for Turning Points, and you can adjust them to diff times cycles also to draw on closes rather than highs/lows....
I Love em because fliking thru the many many charts every day, i can easily see at a glance supps n resist ...
http://www.mdsnews.com/australia/trial/default.aspx
Hi Rockon,
Thanks for the feedback. Can you elaborate on what you mean by different time cycles? I assume you're not referring to different timeframes?
PS. Apologies to all for the slightly off-topic post...
This from MA Pro..
Turning Points
Pre-Alert
Description:
The Turning Points indicator shows when a stock's price trend changes direction. It simply highlights points that are at an extreme - the highest or lowest point in the last N periods. The Turning Point Indicator helps a trader to locate likely reversals within a stock, and is a great visual tool that helps remove the guesswork in support and resistance positioning.
Input Parameters:
Period
The period of time forward and back back that a Turning Point represents the highest or lowest point within. Thus a period of 13 will show Turning Points that are higher than the 12 points before them and the 12 points after them.
Ignore Period
The number of periods that must pass that do not invalidate a candidate Turning Point before the Turning Point is drawn in. Thus only an Ignore Period of 0 will allow the most recent point to be considered a Turning Point.
Up Colour
The colour of the peak Turning Points.
Down Colour
The colour of the trough Turning Points.
Prices Type
Whether the Turning Points are selected on the Close Price or on the High and Low price for peak and trough Turning Points respectively.
Draw Lines
If selected, a pair of horizontal signal lines are drawn across from the most recent peak Turning Point and trough Turning Point.
Reckon.
MGX has been a nice trade but my analysis tells me its likely to stall very soon.
Reckon.
MGX has been a nice trade but my analysis tells me its likely to stall very soon.
Hi Rockon,
That makes more sense now... Thanks for taking the time to post a reply...
Regards,
Chorlton
personally think quite a few are about to stall shortly
Yep.
Theres the short side!
R
Nothing set in concrete yet but today was high ish volume which in itself is fine.
BUT it will have to clear .55c which saw resistance (strong) last attempt.
If tommorows bar is down then that indicates that there was/is hidden selling in the volume of the last up bar. If it closes in the top quartile (25%) on good volume (Not excessive) and above the close of today-- then all is good.
Might have a way to go yet and tommorow will tell a great deal.
According to Elliott analysis it puts this in a wave 4 to around 95c
Click on chart to expand
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