Chart Pattern of Equifax (EFX) shows a breakdown from the Chart Pattern formed. PRICE broke through 2 levels of support (shown as Arrows 1 & 2). Question here is whether one should take an immediate bearish stance now, or choose to do so only later, upon a pullback in PRICE to the resistance level of $39.00...For a TOTALLY FREE 3 Week Trial of Dan Zanger's Chart Pattern Newsletter Subscription, click here.
6 comments:
Thank you so much for today's chart on EFX.
As a newbie to chart analysis, this helps to equate TA with an actual company and industry I understand.
Thanks again and keep up the great work on your site.
no worries...
Those who are into TA tend to believe very strongly that TA is usually a precursor of things to come.
Again, thx for visiting...
Do you ever also feature your favorite oscillator (RSI, CCI, MACD, etc.) with your price charts?
My mentor (in Futures Trading) taught me to read PRICE & that the use of indicators are merely to confirm the direction of PRICE. The indicator & the chart type I use for my futures trading is different from the normal 1min, 5min charts with MACD, RSI etc...
But due to to the NDA (Non-Disclosure Agreement) that I signed with him, I am unable to feature "his type" of charts on the blog. I need to get clearance from him first. Was thinking of doing that when he visits Singapore next month, in April...
Actually, some traders do trade trade chart patterns without indicators and merely on the pattern itself and PRICE levels (support & resistance)...
In any case, you might want to consider signing up with Dan Zanger's Chart Pattern services, that is featured on my blog (the green banner). It's FREE! He is giving away a 3 week free subscription - no credit card needed. This way, you can see how he does it.
Thanks for the clarification &
the lead on the 3 week free course.
It sounds like a wonderful learning opportunity - especially for a newbie who's attempting to sort out which is the most suitable approach from the myriad of choices.
Keep up the great work on this blog.
no worries & thx for the compliments. Thx for also giving your support to this blog.
Let me know if you need further help in trying to learn more TA. I will try to point you in the right direction.
Cheers!
Post a Comment