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MDG: Nice Morning Star

 
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Bergie



Joined: 31 Oct 2004
Posts: 5

PostPosted: Wed Nov 03, 2004 8:18 pm    Post subject: MDG: Nice Morning Star Reply with quote

Nice Morning Star signal on this gold stock. Stochastics are in a nice place. With Bush re-elected, gold stocks may continue to rise due to a falling dollar.

http:/tinyurl.com/42vba

Others to watch: GLG, WHT
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candlestick1
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Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Wed Nov 03, 2004 9:56 pm    Post subject: candlestick charts Reply with quote

Yes, the Gold stocks have some attractive bounces today. So to illustrate it better, change your Big Charts settings to candlesticks, you'll get a much more clear visual graphic.
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PostPosted: Thu Nov 04, 2004 12:38 am    Post subject: Reply with quote

MDG weekly chart shows a dragonfly doji at overbought area.

Even though daily chart shows bullish reversal, weekly chart depicts otherwise.

Which one should we pay greater attention to?
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candlestick1
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PostPosted: Thu Nov 04, 2004 10:44 am    Post subject: Weekly charts Reply with quote

Weekly charts have little significance in chart analysis, it is the daily chart
and the monthly chart that is more important.


Last edited by candlestick1 on Fri Nov 05, 2004 1:00 am; edited 2 times in total
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PostPosted: Thu Nov 04, 2004 5:48 pm    Post subject: Reply with quote

Thanks Steve.
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Bergie



Joined: 31 Oct 2004
Posts: 5

PostPosted: Fri Nov 05, 2004 5:58 pm    Post subject: Reply with quote

GLG has done well since I posted this. A gap up after the morning star and today a bullish engulfing. Same for WHT. I am long all three of these.
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candlestick1
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PostPosted: Tue Nov 09, 2004 10:29 am    Post subject: trading channel Reply with quote

Yes, both position looked good, however now you'll watch to see if they will trade in a trading channel.
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professor
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PostPosted: Tue Nov 09, 2004 7:28 pm    Post subject: Reply with quote

"Weekly charts have little significance in chart analysis, it is the daily chart and the monthly chart that is more important."

Could you elaborate on this? I have always looked at weekly charts!
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candlestick1
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PostPosted: Wed Nov 10, 2004 12:37 pm    Post subject: weekly stock charts Reply with quote

Weekly stock charts don't have relevance because weekly is just a time period that has no correlation to daily or monthly. Expand upon this, you might be better off using a three-day, or seven-day chart analysis. Play around with some other time periods to see if they correlate better with a daily and monthly chart
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professor
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PostPosted: Wed Nov 10, 2004 2:23 pm    Post subject: Reply with quote

Thank you for the explanation, candlestick1.
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