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Techncial Chart Lesson on Hong Kong Highpower
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In this successful trade we would like to take you through the major steps of the trade and explain the decisions behind it. We hope that that this will help your future trading.
- On the 6th this trade was posted on the chart of the day
- The chart had increased dramatically but was now trading within a symmetrical wedge
- Volume was high and the upper trend line was plotted as an indicator, to notify upon a break out
- On the 7th this trade was posted and warned of the doji candle which often indicates uncertainty.
- The price has climbed above its prior high and hit target one. (Half of the position has been closed). We have also potted a support trend line to indicate to us when to exit the rest of the trade
- It is important to note that the RSI is showing divergence
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Posted on the 01/07/10
This report is following yesterday's chart of the day.
Stocks are continuing to present relative strength during the first few days of trading. Hong Kong highpower technology broke out of its symmetrical triangle yesterday but formed a dojit candlestick. Even though the trend is still bullish, yesterday's candlestick does raise some concerns about the strenght of the current trend.
Trading tip- A stop loss should be used to prevent losses.
Hong Kong Highpower – Daily Chart
For today's chart of the day visit the homepage
To view today's the full economic calendar click here.
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Information reliability and liability: The contents are solely aimed for the use of "Experienced" investors in the financial markets who are fully aware of the inherent risk of trading. Dodjit.com does not accept any liability for any loss or damage whatsoever that may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in our trading recommendations. Dodjit make no warranties or representations in relation to the Information (including, without limitation, in relation to its accuracy or otherwise) and do not warrant or represent that the services will be error free or uninterrupted. Copyright: This article is subject to and protected by the international copyright laws. Use of the information brought in this article is subject to making fair use only in accordance with these laws. It is not permitted to copy, change, distribute, or make commercial use of the information except with permission of the holders of the copyright. Risk Disclosure: The risk of losses involved in the transaction or speculations in the financial markets can be considerable. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. Speculate only with funds that you can afford to lose. |
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