Friday, 29 October 2010

Techinical charting tips

  • Drawing trendline from right to left may give a more relevant prediction of support / resistance

  • Bullish reversal bar (dip but close at high) after several periods of falling prices --> buying opportunity

  • Bearish reversal bar (dip and close at low) after rising trend --> time to close long position

  • 3 black crows (blue candles) consecutively --> bad sign

Reference: Trading for Dummies

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