127 13 4
NBG             price is revisiting the lower MLH of minor fork b. Looking for price to show signs of support in this area. Major fork A is still in control but price is showing signs of of a retest is coming of the center line of fork A. This will be the biggest obstacle to the target 3.60.
False break followed by more decline. Fork b redrawn to reflect what has happened. Price is coming off Lower mph of this fork. Suspect a second test of this median line. Looking at Weekly RSI there is some positive divergence.
Not amidst this blood on the streets. Price gets crussed towards 3.0 like in previous highs and should EuroStox go down, and with this pressure, im suspecting a break below 3...unfortunately as i previously made good gains on NBG between 3 and 5
Thank you 2use for the warning. You may well be right on this one.
2use littleriver
I have the same chart from the second touch of around 3...and im not touching it until it gives a clean break - yesterdays attempt got so whiped out and its not quite bottoming yet....I hope we both make a buck on it some time in future - thanx for the charts!
+1 Reply
2use 2use
Well, it played out just as i suspected it would. Might be short term oversold indeed. Good for scalping 10% usually, but i refrain from buying downtrending stocks in a red market.
+1 Reply
You were right on with this call. Sounds like good policy. I am going to adopt it. My personality tends to be overly optimistic and that is reflected in the charts which can lead to trouble. Thank you for the tip!
2use littleriver
You know, i think you are right on being overly optimistic - i have the exact opposite ;) It is good to realize this before you loose. But it is good to be optimistic in bull markets/trends, and be a bear in bear :) This is why timwest's long charts are better than shorts. NBG is also a weak stock, and gets manipulated here and there, dont put a lot on it
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2use 2use
BTW, i would not advise you to buy it now. It is below a long term support level and it may not be the end of the fall.
2use 2use
2use 2use
One of my best exits actually :_) i see i sold at 5.32
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