iCharts Discussions

SwingTrader · Posted: Mon Mar 28, 2011 9:52 am Post subject:

NF has opened between the two key sup/res bands. These bands are relatively close together today indicating either a sideways move or a consolidation between the two bands followed by a breakout in one direction....will have to see. Big move is now possible only when NF moves beyond one of these bands.

SwingTrader · Posted: Mon Mar 28, 2011 9:54 am Post subject:

One thing to note in the chart posted below is that price is above 89 EMA which is just below the BEAR-S1 band. So if price moves down there may be significant support around BEAR-S1 band + 89 EMA. So at the moment downside seems to be limited until both BEAR-S1 and 89 EMA are broken to the downside.

SwingTrader · Posted: Tue Mar 29, 2011 9:55 am Post subject:

29.03.2011

NF has rallied up from LOC into the BULL-R1 band. If a reversal is to happen it will probably happen in BULL-R1 band. Above R1 the uptrend can continue.
LOC might again come into play as 89 EMA is around there, there is significant support here.

manass · White Belt Joined: 21 Sep 2009 Posts: 172

Welcome ST, all our best wishes is with you.
After a long time I got a little bit understanding on the levels from 1st posting of this thread.
Thanks & Regards