At today volume increase but price not able to push higher yet close below the auto resistance line, I read it at the below reason :
1. many retailers try to take profit at this level and people also not willing to buy it at higher price.
2. If the big boys still going to collect more when see so many retailers are selling so hold it here to collect
3. due to too many sellers so the big boys not able to push it higher, so better let the retailers to adsorb it first
Analysis chart not only about will it move up further, where it resistance and support should be? is also try to analysis when should it start to move north after correction or side way movement, only that will make one make money in shorter time. It it also have o analysis the price code too, from the price code may giv more clear sign from the combination of price trend and volume to make up a signal.
The combination of the price code may tell us some information. I used to call that is chart language , mean the chart are talking to us tell us some thing. not really need just by reading the same charts every day till one day you will ask yourself or tell yourself what gone wrong or some thing may happen to this chart ,that mean you start to understand the charts language. is also a good idea of follow the intraday price movement , the best way if you able to draw your own charts that will make you learn faster.
Wednesday, July 11, 2012
