RE: SMR Date? May Election?8 Mar 2024 12:14
Spot.on Peakdread - Charts and your "meteors" can be a great combo.
The chartist is like your navigator, expertly reading the currents (price trends) and spotting potential hazards (resistance levels). You're the captain, though, keeping an eye out for new trade winds (upcoming events) that could blow the course in your favour (towards that £7+ land).
So, you chart the course with the technical analysis, then adjust the sails with your knowledge of upcoming news and events. Together, you've got a recipe for a smooth (and hopefully profitable) voyage!
Eksample:
Rising Momentum (28): Since the momentum is rising, it implies that the rate of price increase is accelerating. This suggests that buyers are becoming more active and pushing the price higher. However, there are some important things to keep in mind:
Not a crystal ball: A rising momentum indicator doesn't guarantee future price increases. It simply shows a trend in buying pressure.
Consider the context: Look at the indicator along with other technical indicators and market conditions. A rising momentum might be less significant if other indicators are showing signs of weakness.
Confirmation: For stronger confirmation, look for the price itself to be rising alongside the momentum indicator.
Here's an analogy: Imagine momentum as a car's speedometer. A rising speedometer tells you the car is accelerating, but it doesn't tell you where it's going or if it will run out of gas.
Overall, a rising momentum at 28 is a positive sign suggesting increasing buying pressure. But remember, it's just one piece of the puzzle. Use it alongside other factors to make informed trading decisions.
(Currently, @80 on the daily and generally, a value above 50 suggests upward momentum, while below 50 indicates downward momentum.)
Ahoy there! ⛵