RE: CHARTS -T LINE TIPS27 Jul 2016 08:33
copy of my take on CNEL BUT DYOR
Good morning manxairbus321 In answer to your question about price movement over the next few days all I can say is it is dependent on what time frame one is using and if there is no news,so follow the Tline rules. If price closes below T line I would not be a buyer. If price closes above the T line, then maybe a buy. If price falls too far ahead of the T line consider buying. If price races too far ahead of T line consider locking in all or part of your paper profit.
At the moment on the 5 minute chart price at 1.425 is in a downtrend and has closed below both ema's so would not be a buyer but shorter time frames are less reliable than longer ones.
On the daily if one did not sell at 2p plus price is still above the 2 emas but heading south so could continue to MY next supports at 1.22 and 1p as there was no 'wick' to yesterday's candle indicating no buying. If price opens lower today it is likely price will continue in that direction. If PRICE opens higher could retrace to placing price of 1.5p and enter a period of choppiness. BUT don't rely on my view. DYOR use the tools and make your own decisions. Remember my success rate based on my trading style is about 70 per cent.
Good luck investing