Planet Wealth - Australian Stock Market Education » Short Term Trading http://planetwealthblog.com.au We are a stockmarket investment company that educates people on the strategies we use to create both income and capital growth. Fri, 23 Dec 2011 00:20:36 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 Short Term Trading http://planetwealthblog.com.au/short-term-trading/ http://planetwealthblog.com.au/short-term-trading/#comments Fri, 27 Feb 2009 02:09:23 +0000 Planet Wealth http://planetwealthblog.com.au/?p=328
Short Term Trading

 

Short term trading is generally my main focus in this blog, but the main techniques used to analysis short term trades can be applied to longer term trades.

Peaks and Troughs are a reliable way of picking momentum change in a stock. CSL has had a momentum shift on the weekly chart. Higher Troughs are an indication of Bulls being in control. Once Lower Peaks (LP) and Lower Troughs (LT) start forming the Bulls have lost control and the Bears have taken over. You could expect the Stock to continue down.

CSL now has LP and LT and right now is trying to form the second LP. This lower peak is being created by the 3 major trend lines holding the stock down. This current level is also a significant Fibonacci retracement level-62%, which gives high probability of the stock continuing to the down side. Next support level is around $32.50 but with this already being broken through once to form a LT, it is likely to be broken again to form the second LT.

230209 csl Short Term Trading

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