Forum Archive Index - August 2001
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[sharechat] RCH Chart
<<<< I'm holding RCH and down 3% of my account value. Can someone please tell
me what the indicators are saying. I cant be sure if I'm acting on fear or
logic. Can you? ..... Ross >>>>
Ross,
No need to be confused - the situation is crystal clear. RCH was in a
strong uptrend for 3 months or so. This ended with the trendline break on
19/7/01, giving an exit price of 87 cents. No technical analyst would have
bought after that date.
I do not know whether you bought before or after the trendline break, but if
it was after, it is important that you analyse your reasons for entering this
trade at the stage you did, with a view to eliminating entries against the
trend in the future.
The trend is your friend only as long as you keep on the right side of it.
Regards,
Phaedrus.
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