Charting
Which one is the right channel? Red or Yellow?How do we determinate which one is the correct channel?
Is it the red or the yellow one?
If the correct one is yellow, then the channel has been broken, a signal that we should start considering a short position, meanwhile if the right one is the red one, we could conclude that we are still going up at a steady pace and we would go long.
Trying to learn! Please comment below with your opinion!
EURGBP Brexit?200 Ma is holding as good price support hence, expecting price to pull back and test daily resistance @ 0.78019 zone before continuation of downtrend and break of trend line for short positions for a lower low to be formed.
If we fail to see a break of the ascending trend line and resistance @ 0.78019 zone is broken we may see upside movements towards 0.79000.
GBPUSD - Approaching channel base or decent support to 4050-6XGBPUSD..
Defining moment for the pair to be seen around to 4050-6X zone..
i.imgur.com
GBPUSD 4 hr -
Chart Request : Twitter - A Longer Term ViewThis is a monthly chart of TWTR . The last candle on this chart is the January candle. January is only half way over so this candle will change from here. This idea is based on the candle that exists on this chart. I have no way of knowing what the January candle will look like at the end of January 2016...
TWTR saw its highest stock price in December of 2013, just after its IPO. TWTR is now experiencing it lowest stock price. If you ever bought TWTR stock and are still holding it, you are losing money.
The first thing I will point out about this chart is there is no green uptrend line. Which means there is no uptrend over the long term... You should not invest in stocks that have a chart with no uptrend lines. If you can draw an uptrend line, you should only stay in the stock if the price stays above that uptrend line.
Some say TWTR and FB are "similar" companies. Weather you believe that statement or not isn't important. But lets remember that FB also had a tough time beginning its green uptrend line. In fact it took about 13 months after the IPO for a long term uptrend line to begin. Looking back, it wasn't hard to see. But I will admit that I too missed the beginning of the uptrend and lost out on some profits. Which just confirms the reality that catching a turn around is pretty difficult.
In order to catch a turn around in a stock you have to take chances and you have to be nimble. You have to be willing to get out of the stock if it doesn't react the way you want it to. For instance, if you bought TWTR on Tuesday with the expectation it will not drop below this month's low of $17.27, then you are agreeing to sell if you are wrong. If you are that nimble (most people are not) then give it a shot whenever you think the time is right.
Personally, I will not try to catch TWTR at its low, I will wait to see if there are ever two candles in a row with higher highs and higher lows. I would not worry about catching the bottom. I would worry about catching the uptrend when it shows itself.
If TWTR is going to go higher in the long term, it has to get above DT 2. After DT 2, it will have to get above any horizontal "Resistance becomes Support" lines and DT 1. You just have to watch the chart and see where the candles are going. At the moment, I don't see any reason for a long term investor to be invested in TWTR.
Thanks for the chart request. I hope this chart and explanation helps.
