Matt, thanks for your hard work , great news letter, this
company just increased guidance what do you think about the chart?
Am I getting the hang of it? Good buy off the 9 ema?
thanks a bunch for the feedback, Steve and I really try our best
to share good information and to make each newsletter and education
in TA as well.
on TEUM first off thank you for taking the time to mark up your
own chart and post it, really respect that, everyone should do
that, that's how you learn.
My main observations are that yes TEUM bounced off some support,
it's obviously still in a strong downtrend (observe the MA Ribbon),
but the ribbon is quite wide so was due for some reversion to mean
bounce which it got last week to the 20 MA. Notice that I
added symmetry on the bounces, this last move was 91 cents, so less
than the last rally of 1.21 so no break in symmetry from the start
of the early May decline, that of course doesn't mean that it won't
go higher year, it's just saying no long term break in symmetry
yet.
On Friday it broke a downtrend line which also happened to
correspond with the 9 EMA and it did so on higher volume which is a
good sign, I'd now watch to see if that becomes support on a higher
low, if it does could try a lower risk long with a tight stop.
I'd also shift down to a 60 min chart, remember 60 min and
daily charts go well together. I like to use daily, 60 min, and 15
min time frames .
notice on the 60 min chart I gave you you can see the downtrend
line more clearly, I also added Fibs, that area around the 61.8%
fib could be a very low risk spot if it starts to turn up there
this morning I responded to a question on TEUM, I commented to
monitor the 60 min chart and that near the 61.8% Fib would be a
good spot. I bought some there around 2.34, been a nice
trade!
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Matt, thanks for your hard
Posted by hstrader on 2nd of Jul 2019 at 08:49 am
Matt, thanks for your hard work , great news letter, this company just increased guidance what do you think about the chart? Am I getting the hang of it? Good buy off the 9 ema?
thanks a bunch for the
Posted by matt on 2nd of Jul 2019 at 10:19 am
thanks a bunch for the feedback, Steve and I really try our best to share good information and to make each newsletter and education in TA as well.
on TEUM first off thank you for taking the time to mark up your own chart and post it, really respect that, everyone should do that, that's how you learn.
My main observations are that yes TEUM bounced off some support, it's obviously still in a strong downtrend (observe the MA Ribbon), but the ribbon is quite wide so was due for some reversion to mean bounce which it got last week to the 20 MA. Notice that I added symmetry on the bounces, this last move was 91 cents, so less than the last rally of 1.21 so no break in symmetry from the start of the early May decline, that of course doesn't mean that it won't go higher year, it's just saying no long term break in symmetry yet.
On Friday it broke a downtrend line which also happened to correspond with the 9 EMA and it did so on higher volume which is a good sign, I'd now watch to see if that becomes support on a higher low, if it does could try a lower risk long with a tight stop. I'd also shift down to a 60 min chart, remember 60 min and daily charts go well together. I like to use daily, 60 min, and 15 min time frames .
notice on the 60 min chart I gave you you can see the downtrend line more clearly, I also added Fibs, that area around the 61.8% fib could be a very low risk spot if it starts to turn up there
TEUM daily
TEUM 60 min
this morning I responded to
Posted by matt on 2nd of Jul 2019 at 01:28 pm
this morning I responded to a question on TEUM, I commented to monitor the 60 min chart and that near the 61.8% Fib would be a good spot. I bought some there around 2.34, been a nice trade!