Forum Archive Index - October 2003

["Morgy" <morgy40@xtra.co.nz>]

Cristine

 

Finally worked out how to get a chart posted from my own software. As you can see it is in a trading range on this weekly chart. A lot will depend on what happens when the 2 groups of moving averages meet, this means that there is agreed value on price, it wont last long and they will bounce off each other or cross  which will give you a chance if it crosses to the long side to make some money , if it drops below the support level I have identified, well I would bail out, particularly if it goes through 1.89, which is the fib retrace line, ehich you will note it has touched and pulled back from, possibly a good sign that it may stay within the trading range. Why do you think it was such a good buy from a FA point of view  ?

 

 

Hope this helps

 

Regards

 

Morgy

 

 

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