Chart Testing Ground...
|A word about charts: |
|They really do not predict price so much as they guage people, traders, and their sentiments. And, in the sub pennies they really only record trading sentiment and Market Maker Behaviour in the past tense. Sometimes they will show where sentiment turns, sometimes they don't; especially in the subs. The thing is, triple zero charts are pretty useless except to record traders reactions, and foretell very little - except when they do. |
|So why bother? |
Because people are creatures of habit and are attuned to groupthink. And charts do show where the traders are going. The trick is getting in and out on the turns of the crowd. Like when birds do that swoop in unison. They may be heading right for you, you duck - needlessly. Because in a blink of the eye they change course and go elsewhere.
|People will believe in something so much that they will part with hard earned cash no matter what reality tells them. Until they don't. And then they will change direction with ferocity. Charts, sometimes, can give insight to where the crowd is heading. Trends are undeniable at times, but not unstoppable. They change and twist with the vagarities of the groupthink that is present. |
|Good Luck. This stuff is not as easy as it looks. |
*links to chart
These Charts are not to be considered trading advice!
Nothing posted here is intended as an advisement to buy or sell any stock! A Word About Heikin Ashi:
Heikin means average. These candles take an average snapshot of the current day and the day before. The numbers will be off a little from "Daily Candles".
From StockCharts: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:heikin_ashi
Quote: Embedding ihub charts:
Heikin-Ashi Candlesticks are an offshoot from Japanese candlesticks.
Heikin-Ashi Candlesticks use the open-close data from the prior period and the open-high-low-close data from the current period to create a combo candlestick. The resulting candlestick filters out some noise in an effort to better capture the trend. In Japanese, Heikin means “average” and “ashi” means “pace” (EUDict.com). Taken together, Heikin-Ashi represents the average-pace of prices. Heikin-Ashi Candlesticks are not used like normal candlesticks. Dozens of bullish or bearish reversal patterns consisting of 1-3 candlesticks are not to be found. Instead, these candlesticks can be used to identify trending periods, potential reversal points and classic technical analysis patterns.
There is a link below the chart with [ bracket chart ] address [ forward slash chart bracket ].
However, the address prefix needs to be added. Between the bracketed words chart and /chart is a link that has the http://ih.advfn.com
left off like this "/p.php?pid=staticchart&s=NO%5EPMCB&p=3&t=16&dm=2".
Simply add http://ih.advfn.com
before the /p and after the first chart in brackets.
Like this, without the extra spaces [ c h a r t ] http://ih.advfn.com/p.php?pid=staticchart&s=NO%5EPMCB&p=3&t=16&dm=2
[/ c h a r t ]