This is my first post on price projecting using a few techniques I am learning about.
One being the trend lines, which I have used as the light blue lines skimming the top in my attempt to find resistance.
The other being just below that in the blue-gray, again in attempt to trace resistance.
I located a double top, which was defined.
I also paid attention to a GAP that formed 17 APRIL. Using this GAP I traced the halfway to find support trends.
As a side note, I tried using the inside bar analysis which is a favorite of Nial Fuller, attempting to make a judgement of price projection.
Lastly, I used the Fibonacci Retracement tool to help me find the .618, .5, and .382 subdivisions.
Based on my very first publication of technical analysis, I believe it to trend upward.
Using the RSI tool, I notice there being a lot of selling power.
Since this is the beginning for me, any tips are MUCH appreciated.
A lot of what I learned was from a good friend and a book he urged me to delve into by Constance Brown "Technical Analysis"
I chose neutral due to my lack of experience, but my gut says long.
One being the trend lines, which I have used as the light blue lines skimming the top in my attempt to find resistance.
The other being just below that in the blue-gray, again in attempt to trace resistance.
I located a double top, which was defined.
I also paid attention to a GAP that formed 17 APRIL. Using this GAP I traced the halfway to find support trends.
As a side note, I tried using the inside bar analysis which is a favorite of Nial Fuller, attempting to make a judgement of price projection.
Lastly, I used the Fibonacci Retracement tool to help me find the .618, .5, and .382 subdivisions.
Based on my very first publication of technical analysis, I believe it to trend upward.
Using the RSI tool, I notice there being a lot of selling power.
Since this is the beginning for me, any tips are MUCH appreciated.
A lot of what I learned was from a good friend and a book he urged me to delve into by Constance Brown "Technical Analysis"
I chose neutral due to my lack of experience, but my gut says long.