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cool79 · #1 (**permalink**) 12-02-2007, 10:15 AM

Hi blitzksg,
Do you have any comment on this counter from the TA standpoint? Is the trend upward or downward? Thanks!!

blitzksg · #2 (**permalink**) 12-02-2007, 03:34 PM

ohh....see HS. Heard it has good FA too (please verify this first haha)

TA-wise, uptrend. Support formed at 0.43.

cool79 · #3 (**permalink**) 12-02-2007, 04:01 PM

what is the resistance point?

for TA-wise, the 2 lines u draw r base on the lowest to another lowest point? then from the centre point then draw another line to get the slope goin up n then draw another line to get the support(0.43)?

blitzksg · #4 (**permalink**) 12-02-2007, 11:30 PM

the resistance is $0.485 (or was haha)

the sliding support lines are just a rough guide and should not be taken as a confirmed entry/exit point. support/resist lines are interpreted differently from chartist to chartist, but the general rule is that support/resist are found where:

1. price has closed/open/high/low at that particular price point a lot
2. a price has been a previous high/low