July 8, 2016
Random Walk vs Non-Random Walk
Trading is A Random Walk or Non-Random Walk, does this really matter. In fact, as long as it makes money both are okay. It is like, white cat black cat as long as the cat catch mice the cat is a good cat.
But in trading you must have your rules and strategy. Adopting a commonly apply strategy is also acceptable as long as it makes money for you.
Chart pattern is a commonly use strategy for preparing a trade. We understand the price moves (or changes) is caused by the supply and demand issue. Price moves up, because the buyer willing to buy at a higher price because this buyer worry he may miss the opportunity to own the stock.
Three Drives Bearish Chart Pattern
If you look at the Golden Agri Resources chart from a different view, you may see that the price action seem moving along a equal distant channel. The price action is currently breakout of the lower channel line. Let wait for the price to close this week. If the price close inside the channel, there is a potential the price action will move north. Watch out!
When the price moves north then what’s next? The chart worth a thousand words, first the price action has to close inside the lower channel, in this week, or next week or next next week. Thereafter, the price has a potential to reach the upper channel line. When reach, the price action may be resisted and ended a bearish three drives sell pattern. True or true? Will see.
July 8, 2016 Golden Agri Resources E5H Weekly Chart and Gartley 222 | Three Drives Pattern
You can read about the previous Golden Agri Resource stock analysis on this site. See link for details.
Golden Agri Resources | E5H | Moses Stock Analysis
E5H | Gartley 222 | Golden Agri Resources Stock Analysis
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