Posts
It was my intention to divest partially at resistance and to keep some in case price should go higher. This has always been my style. Today, I made a mistake and sold all my stake in Golden Agriculture at 70.5c, the immediate resistance.
It makes sense to sell some at 70.5c not only because it is where we find the declining 100dMA, it also makes sense because of the declining volume as price tried to move higher in the last three sessions. A pull back would not be unreasonable.
Indeed, with the ADX suggesting a lack of any strong trend and the Stochastics showing signs of overbuying, we could see a pull back. A pull back would find immediate support at 68.5c. Breaking that could see price going lower to 66.5c. In a pull back, we want to see a higher low formed.
Of course, we could also see price moving higher although the candlesticks formed in the last two sessions, together with declining volumes, are somewhat uninspiring. Next resistance is still at 72c. Good luck to all still vested.
Bloggy Award
2 comments:
Hi ak, have been following ur blog for a while. Really interesting as i'm currently starting to learn TA.
On a different note, u can always keep ur leftover red wine or any other wine that is no longer printable to use as seasoning or marinated for ur meats, vegetable etc. That's because wine will oxidise to become vinegar. N drinking wines make very good seasoning.
Hi foodie,
I am glad that my blog is interesting for you. Opening the TA window has thrown light into my investment decisions but, beware, light could create illusions too. ;)
Some people have told me that I could use the leftover wine as vinegar too. I actually have a bottle of vinegar in the kitchen and I have used it only once in the last four years! So, chances of me using the leftover wine is almost zero. Haha.. Thanks for the suggestion though. :)
Post a Comment