1165 replies to this topic

[Midas1]

Hi..do you use investing.com for charts or any free charts you can recommend? Trading.view etc? Pressure on for me mrp monday... thanks help

[Midas1]

https://www.google.c...Xcz2Pl3&ampcf=1

[Midas1]

Bit more gloom and explanation
Rand slumps against the dollar as weak German data hits the euro
Business Day
1 day ago...didn't realise rand tracks euro

[Midas1]

Mr P weekly chart :

 

 

a1.PNG

 

Pure technical view from weekly chart:

 

1. broke below 200ema (lilac/mauve serrated line)...check how that line gave it support but now broke down convincingly - bearish

 

2. buying signal /support to buy any put away for your grandchildren is +-R160.00 this week ( goes higher every week as its an uptrend line)

 

3. stoch has reached the bottom so downside may now be limited. However stochs can stay in this territory for weeks.

 

4. just checked rsi now and still roon to go a little down...

 

5. All likelihood this will go  test R160/ 165 levels soon where it will be a buy for long term.

 

 

PS : from a fundamental point of view  i have been bearish retailers for last 12 months,,,only shorting the bounces..never long...

 

and M as far as stop is concerned , this is horses for courses...depends on your risk appetite... I normally go for 5% and hold longer...

 

 

Good Luck...

Thanks a lot, hope little upside monday then must bite the bullet and sell the swines...also sitting with them in my equities but will have to just hold them...after month of serious graft on my cfds am sitting where I started break even due to mrp...only reason I bought them again was made from 208 to 211 twice, tried 3rd time and bitten..and didn't believe they wouldn't come back to 208...oh well you live and you learn..Cheers ps you would think when us markets crashed rand should get stronger but its sitting at 14.50 today..

[Polly]

Mr P weekly chart :

 

 

 a1.PNG   324.25KB   8 downloads

 

Pure technical view from weekly chart:

 

1. broke below 200ema (lilac/mauve serrated line)...check how that line gave it support but now broke down convincingly - bearish

 

2. buying signal /support to buy any put away for your grandchildren is +-R160.00 this week ( goes higher every week as its an uptrend line)

 

3. stoch has reached the bottom so downside may now be limited. However stochs can stay in this territory for weeks.

 

4. just checked rsi now and still roon to go a little down...

 

5. All likelihood this will go  test R160/ 165 levels soon where it will be a buy for long term.

 

 

PS : from a fundamental point of view  i have been bearish retailers for last 12 months,,,only shorting the bounces..never long...

 

and M as far as stop is concerned , this is horses for courses...depends on your risk appetite... I normally go for 5% and hold longer...

 

 

Good Luck...

 

[Midas1]

Jeez see us market s dire last night...any reason other.than no results on china trade war? Surely that could weaken dollar a bit...but looks as strong as ever

[Midas1]

Thanx, can see on tradingview but not sure how accurate..their last fonancials 22 nov..how often they usually do updates..also see jp morgan and investec increased their stake over 5 percent in feb...this one is my lesson learnt cfd,,but still hoping to lessen my loss..i ignored the stop....do you set your 2 percent or more..i thought 2 percent bit tight if shares volatile you can end game bit quick...what u think...appreciated

[Polly]

fx turned at 10am...u shuda bailed than

[Polly]

P hi,,where u see resistance mrp?

will throw a chart here tomorrow...

[Midas1]

Have good w end all..Terrible day except sold kio at profit..everything else wanted buy couldn't..everything wanted to sell went redder...def time for Friday beer

[Midas1]

P hi,,where u see resistance mrp?

[Polly]

On the point of zar/usd
Any idea is where this will end up around elections?
It’s hecric to hear Midas say Rand has strengthened at R14,20!
Thanks

i reckon back to R14.80/15 soon,,

 

already spiked today from 14.20 to 14.37

 

think we due for a review next week from one of the big house..Sp or Moodys.....no way they gona buy the govts debt and gdp growth this time with escom saga!!

[Midas1]

Forecast says tues about 13.90..larry i read these forecasts they never come out right..trump opens mouth..anything can happen but i do believe if rama gets in and they can bluff foreigners eskom is on mend may see small repise after elections....ps just been opticians gor drivers.
Bloke says i can see...well when i seen what mrp did while im out hope hes made mistake...made 3k on kumba today though

[LarryK]

On the point of zar/usd
Any idea is where this will end up around elections?
It’s hecric to hear Midas say Rand has strengthened at R14,20!
Thanks 🙏🏻

[Midas1]

Thanks have go out set a sell so hoping for best

[Polly]

nice uptick on retailers M

[Polly]

P, sorry bother you again..rand forecast says 13.90 next week..what u think? I dont find their forecasts very accurate usually

naw..u right this thing will start weakening later this afternon with all the kak in our country....only strengthened cos of dollar...will be a sharp rebound

[Midas1]

P, sorry bother you again..rand forecast says 13.90 next week..what u think? I dont find their forecasts very accurate usually

[Midas1]

Yes..know ...done 11 trades all profit then this..was beginners cant believe it it wont turn around..wont let it happen again..im still up 17k in a month even as i am now but without this woops qould be up 27 k...stupid stupid..but quick lesson learnt..so reckon if goes up at all today is better sell and move on..

[Polly]

Mrp the.one i let run down like a fool as wouldn't believe would stay down there im 6 percent down not good..my price 204...still think mrp will go back up there at some stage..but may ditch today even at 3 percent loss...dunno

with cfds u must have a stop and  u need to let stop take you out...never ever adjust stop or youll catch the mother of all losses trades..happens time and time again...