trading tips
« Previous EntriesTOL Forming a Double Bottom?
Sunday, June 21st, 2009TOL has been making consistent Higher Peaks and Higher Troughs in a channel since the beginning of March. Now at a significant support what could be the next possible target for this stock?
A potential Double Bottom could forming on the $6.45 weekly support line. Should this be validated with another Higher Trough it is likely [...]
Fibonacci Numbers in Trading
Tuesday, May 5th, 2009The Fibonacci retracements pattern is a powerful tool used by technical traders to identify reversals on a stock chart. Let’s take a look at the Fibonacci sequence and show some examples of how you can identify this pattern.
Fibonacci numbers were developed by Leonardo Fibonacci and it is simply a series of numbers that when you [...]
Dow Jones Showing Signs Of Weakness
Thursday, April 30th, 2009
Over the past weeks the Dow Jones (DJI) has been rallying but showing signs of weakness. Last night was another strong bullish up day but does that mean it is breaking up again?
Not yet! When looking at the daily chart the weakening of the rally can be seen as the DJI consolidates under 8200. Though [...]
Easter Stock Market 2009
Monday, April 13th, 2009This week was a short week on the XAO, with the Easter long weekend and an early close on Thursday.
In the news, the reserve bank dropped interest rates by 0.25% but banks are keeping most of it, ANZ only passing on 0.1%. This had not much affect on the charts. Looking at last weeks chart [...]
Dow Jones Reaches Pinnacle Point of Resistance
Wednesday, April 8th, 2009With America’s economy seeming to have some level of influence in the world economy, I thought it would be good to see what the Dow Jones (DJI) chart looks like.
Last week the XAO closed on an area of a pinnacle point (see last post). Should it break up we are likely to see alot more [...]
Up Trend Channel LGL
Tuesday, March 24th, 2009There are few stocks out there at the moment that are showing clear signs of buyers being in control. But with gold on the rise in these tough times, there are a few gold stocks with bullish trends.
LGL has been in an up trend channel for the last 5 months. The weekly chart shows the [...]
Bullish Signal For Small Run
Tuesday, March 10th, 2009Last week I touched on STO as a bearish stock with a possible longer term short trade. This week it has broken north. What does this mean?
Some people may mistake this break up as the stock now being bullish. But if you look further in to the weekly chart you will see a significant level [...]
Long Term Trade Opportunity
Thursday, March 5th, 2009To consider a longer term trade, it’s best to find a stock that is at resistance for a short position and at support for a long position, before entering. Take a look at the example on STO to get an understanding of why.
STO, when it produces an entry signal would be good for a short [...]
Short Term Trade – LEI
Monday, March 2nd, 2009At the beginning of October Last year, and large Head and Shoulder Pattern (H&S) was Identified and confirmed on the weekly chart of LEI. This set the stock up for a longer term view of bearish, with a likely target of $12.00.
This week, LEI has hit the top of a downtrend channel and weekly resistance [...]
Double Top – Charting Patterns
Monday, March 2nd, 2009Each week the XAO is breaking support and continuing to show us bearish signals, which support the medium term flag break target (identified 15/01/09) of around 2500.
This week saw the confirmation of a double top. The neckline is a weekly support line that was breached on Monday, with the rest of the week re-testing that [...]
