Oh Chartist My Captain...

[Zanzibar]

Any late boarding passes left on this boat?

[#2]

on 11/06 we saw SOL penetrate deep into the ambush zone, intraday below the 61.8% retracement from the previous most recent highs ....it closed above this retracement. This was an important day for SOL...RSI has turned up and penetrated first resistance...I would wait for EMA cross overs and for the 100 day ema at 24829 seems to be offering some support.... If you are into Fibs this retracement should now be complete and the close above the 38.2% would take some extra downside risk out of the trade...

[#3]

Interestingly if you look at the decline from 19/02 to 20/03 the following rally extended almost exactly to the 161.8% exstention...some 5000 points or 20%...

[Zanzibar]

I Must admit I am relatively new to all this, but I'm studying as we go along. Still trying to get my head wrapped around the Fibs. - And not those uttered by the Rofster. Thanks a lot for the insight.

[#5]

SOL, WEZ lovely !

[#6]

Zanzibar, fibs are really really easy...in fact everything in TA is...

[SimonPB]

unless you decide to make it really really complicated - an all that does it loose you money.

[#8]

Ja, you know in general I find every industry tries to complicate things in order to increase the value perception so called experts can potentially add....you find it everywhere and TA is no exception...(esp when you have ppl who use their PHD title) The market is made up of people driven by the same basic desires you and I have and if you can make the connection as to how this is manifest in the market you will be 80% there...the best chartists are not the best traders