Hi, could someone confirm to me that this is the best fit falling resistance line to put on this chart. The MACH has flipped up, so going off what I have learnt so far, if the price reaches my 2.5% market noise, it is time to buy. Is this correct?
Thanks Gregg

Can someone please tell me how to attach a chart, thanks.

Thanks guys, attached is the chart.

mmm i had a similar line but its not looking very happy based on thursdays close

Hi Gregg & Deon,

A quick question here - with the highs of the 2 weeks ending 27-04 & 04-05, your second point of refernce here, being the same value, is this actually a HTP, as the week ending 04-05 has a lower low than any week coming into it?

If the answer to this yes, does this point need to be a MHTP, or is there a 3rd point we can reference to create a valid FRL.

If the answer to this is no, then is this a valid FRL?

Deon, while it does look sad based on Thursday's close, if the FRL is valid, the entry would have occured and many would now be sweating to see if the direction changes yet again, to continue upward.

To borrow a saying from a common mentor - "How was that for a considered non answer"

Have a great day

Peter Varcoe

Peter Varcoe wrote:

A quick question here - with the highs of the 2 weeks ending 27-04 & 04-05, your second point of refernce here, being the same value, is this actually a HTP, as the week ending 04-05 has a lower low than any week coming into it?



darn i did not realize that

but i had 3 points - 23/02, 4/05 and 8/06. I realize that these are not turning points under such definiton but I identified them as points just from my intuitive feel. I felt the high of 4/05 was a "drop off point" at which price just fell away. My entry came 21/09 and it was re-assuring to see rob draw a similar line in the weekend workshop.

ah well... life goes on

Thanks for your help, I can see where I went wrong.

Gregg