Important note.
Added 2024-01-19 19:23:07 +0000 UTCI make 450 charts a month and in about 300 of these charts I will say:
'The price needs to breakout and hold this level'
or
'Confirmation of support and hold'
or
'This Fib levels needs to hold to confirm Wave 2 or Wave 4'
I am going to make the slogan of our group:
'Be greedy for support confirmation'
It is the only time we should be greedy with investing.
We can not make a price action hold support, I or nobody can do this and you must be prepared to lose a few percentage in order to get that support confirmation too and you will be glad you did.
I make very little buys and only ever add in the buy zone or when support has been tested at least once.....if I miss a stock because of this, I do not care, I will get the next one.
Comments
If we use the ETH chart above as an example, do you consider this double bounce as a confirmation of support and a hold ? If not, what are your criteria ? What obvious signs make you believe a stock is ready to pop ?
Luc
2024-01-20 05:39:39 +0000 UTCGood idea….so I’ve done this on the $ABNB chart recently, where I showed how $ABNB held the 0.618 Fib for the last 12 months
Gareth Neary
2024-01-19 21:16:06 +0000 UTCMight be useful to get this point across to everyone by maybe showing som3 examples of what "a hold" looks like, might just clarify for the group, just a thought!
Damien O'Sullivan
2024-01-19 19:39:57 +0000 UTC
