Some analysts use many indicators to help them for decisions making. Some are not. It depends how much experience they have in this field.
When I was learning civil engineering, my lecturer told all his students to remember this rule. "We don't need calculators or portable computers to to calculate bending moment when we are on site, the foremen and labours will laugh at us." It is quite true in technical analysis as well.
One of my students told me 2662.HK is a healthy stock, and I asked her why? She said that she could not use a software or a smartphone APP to draw trend lines, Fibonacci ratio, and she must need some indicators like MACD, so she could not tell me immediately.
When you see this graph, you don't need any tools, all you need to mind read and use your fingers to measure when you have no computer with you.
You may spot that there is another consolidation area at somewhere around $2.6. By this simple method, your expected target will be around $4.1.
When I was learning civil engineering, my lecturer told all his students to remember this rule. "We don't need calculators or portable computers to to calculate bending moment when we are on site, the foremen and labours will laugh at us." It is quite true in technical analysis as well.
One of my students told me 2662.HK is a healthy stock, and I asked her why? She said that she could not use a software or a smartphone APP to draw trend lines, Fibonacci ratio, and she must need some indicators like MACD, so she could not tell me immediately.
When you see this graph, you don't need any tools, all you need to mind read and use your fingers to measure when you have no computer with you.
You may spot that there is another consolidation area at somewhere around $2.6. By this simple method, your expected target will be around $4.1.