Technical Analysis Questions

tech/a · 29 July 2019

IFocus said:
The last two bars are showing supply possibly exhausted and price to move up.

Hi I Focus.
I would suggest that the first 3 bars (In this chart) indicate that to which you are alluding to.

I cant see much of the chart but price to the right seems
to be filling a gap so short term slowing.--perhaps

BlindSquirrel · 29 July 2019

Thanks Gents (presumably),

tech/a - I gathered that but I'm more interested in the psychology behind it.
The Galah gets the lollies for this one.

The bonus internet point goes wanting - It's WPL - which actually closed in the green today - Huzzah!
It's bouncing off a nice trend support there, back up to circa $37 hopefully (no jinx!)

Joules MM1 · 29 July 2019

BlindSquirrel said:
THREAD RESURRECT!

I've come across this peculiar formation in one of my income holdings:
View attachment 96446
There have been a bunch of days which are all red but are in an increasing trend. What is the market thinking for such a period?
(Bonus internet points for guessing the major ticker)

are you referring to the price bars or are you referring to the volume bars ?
theyre concisely different data points

tech/a · 29 July 2019

Don't think its that hard.

Buyers buying into a thin market hence gaps up
Thinking that this is at a good price.
Sellers selling into thicker supply thinking this is
a good time to get out.
Today is pretty average demand. I note the falling volume
during this up move. I think this low will be tested sooner than later.
The thinking here I suggest is that buyers are not certain that
supply has left the building.

My apologies if this is not Freudian enough for you.

IFocus · 29 July 2019

tech/a said:
Hi I Focus.
I would suggest that the first 3 bars (In this chart) indicate that to which you are alluding to.

Agree

BlindSquirrel said:
Thanks Gents (presumably),

tech/a - I gathered that but I'm more interested in the psychology behind it.
The Galah gets the lollies for this one.

The bonus internet point goes wanting - It's WPL - which actually closed in the green today - Huzzah!
It's bouncing off a nice trend support there, back up to circa $37 hopefully (no jinx!)

Also its a very small part of the over all move note weekly up trend over all

Cheers

BlindSquirrel · 30 July 2019

tech/a said:
My apologies if this is not Freudian enough for you.

After reading this reply, I'm starting to think my Mum's more attractive than before...

tech/a · 30 July 2019

Ahhh huh

BlindSquirrel · 30 July 2019

would it help if I had instead said that I found Oedipus' mother more attractive than before?

why I have to explain my witticisms...

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