Figure 1: FLI Price Chart
Information:
Date Bought: 08/16/2010 Buy Price: 1.07
Reason for Buying:
- Already at the oversold area of my indicator.
- It is located near a major support line.
- It is near the 20 MA which is acting as an area of support.
Ep, thanks for the analysis.. If I may ask.. How can you qualify a major and minor support line?
ReplyDeleteLearning TA pa...
Thanks=)
Ece31316
I categorize them by the number of times they touch a swing high/low in the chart. If it was touch more than once, I categorize it as a major support line. It can't be seen clearly on the chart of FLI, but further extending the green line to the left we can see that the swing high was touch more than once.
ReplyDeleteGood day sir!
ReplyDeleteMay I ask what software you are using? Amibroker? How much do you spend for this and the data?
I'm a newbie trader and have also started my own trading journal as part of my learning process. I'm just using screenshots from the PSE site hehehe.
You can purchase a license on this site:
ReplyDeletehttp://www.amibroker.com/index.html
About the Data you can download it for free using PSEGET from this site: http://www.absolutetraders.com/yeahbah/downloads.php
Do you have an online trading journal? If so what is the URL? I'm planning to drop by. hehe