Sunday, March 25, 2012

25th March 2012 – Looking for friends? Try FFN!

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

Duration

1.40

 

 

 

1.26

 

 

 

temp Reason for Buy / Sell / Short / Cover:

 

  1. Monthly chart shows that price seems to stable down at $1.40.
  2. Monthly chart seems to display a cup with handle pattern.
  1. Intraday chart also indicating that consolidation is been built at $1.40.

 

Lesson Learnt:

 

  1. I am taking the proactive approach where I am not waiting for the price to come up from the handle first. This can be lethal.
  2. High volume at the cup is quite encouraging.
  3. Volume has been low and getting lower at the downturn of the handle side.
  4. Daily chart shows that the price of handle has dropped back exactly 61.8% which is normally the price range where buyers come back in to scoop up bargains.

 

Intraday Chart

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Historical Chart

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