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World Stocks

Range Resources

Technical Analysis - Charts and Stuff

(ASX:RRS / AIM:RRL / PINK:RGRLF & RGRYY)
Informed Discussion. No ramping. No deramping.

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 11:30 am

Ignoring individual BUYS and SELLS and the tiny volumes, the position is little changed this week we are still sitting on the 0.175 support line (previously our line of resistance) and still knocking on the door of the 0.2 resistance level. In fairness we did drop just short of that @ 0.198 on Friday. It seems the overall trend still is green, based on the Mid price of course. [IMG]http://i63.tinypic.com/30up940.jpg[/IMG]
Celticheart07
 
Posts: 188
Joined: Jul 2013
Location: Wales

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 1:33 pm

Hi there Celticheart

The "Support Line" cannot be sitting at 0.175 as even as recently as Friday trades were going through at 0.158, 0.16, 0.1685, which are all numbers smaller than "0.175"

"Support" means a level that trades do not go down through, just as the floor supports your weight.

If you are in the loft and you fall through the ceiling, you have fallen through the support.

There is no price support line at 0.175 that we (Range) are sitting on.

With an advertised spread currently around 33.33% you cannot look at the mid price, but you must look at the actual prices being paid.

Perhaps the below articles will help you understand the basic concepts of support, resistance and trading inside the spread.

https://www.investopedia.com/articles/t ... 121701.asp

https://www.investopedia.com/articles/t ... 061801.asp


atb
pendulum
 
Posts: 5
Joined: Feb 2018

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 1:54 pm

Hi Rainbowbottom or do you prefer Yuff. It is common for traders to test both the support line and the resistance line but it is very different to break through those lines. Just because someone posts a small DMA sale below the support line does not mean it isn't holding. We tested 0.22 but it didn't hold so I am not claiming that is our high either.

I did try and explain that to you over on LSE but it seems you weren't happy with my reply there so tried again here. The answer is still the same, our support line is currently 0.175. Look at the chat it really is quite clear:

[IMG]http://i63.tinypic.com/30up940.jpg[/IMG]
Celticheart07
 
Posts: 188
Joined: Jul 2013
Location: Wales

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 2:44 pm

Hi Celticheart

Well, I did try to explain the basics, but it appears that you are one of those people who mistakenly thinks they know it all.


Lesson number 2 for you. Look at the trade history for Friday.

There were about 11 sells on Friday, all at either 0.158, 0.16 or 0.1685, with 0.1685 being the best sell price transacted.

All of these prices are well below the "0.175" that you mistakenly call support.

There is no support at 0.175, otherwise these 11 trades would not be priced below 0.175.

There were no sells above 0.1685.

There is no support at 0.175.

You are somehow confusing "Support" with the "Mid Price" based on a 33% spread.

Out of interest, what makes you think any of the sells were entered DMA, and what difference would it make even if they were entered as DMA vs Quoted.

Quoted or entered as DMA there has to be a taker for any trade to be executed.

This is all really very basic stuff that you don't seem to understand.

The links are still there for you to read and learn.




Friday Trades.

16:29:57 0.199 22,136 44
15:14:06 0.158 117,090 185
15:05:33 0.16 158,983 254
15:04:19 0.1685 663,239 1,118
14:34:35 0.1685 20,000 34
14:05:01 0.1685 138,612 234
13:34:57 0.1685 118,882 200
11:25:32 0.1685 1,045,385 1,761
11:17:16 0.199 47,261 94
10:36:21 0.1685 26,358 44
10:34:30 0.199 97,010 193
10:11:04 0.1685 500,000 843
08:53:32 0.1685 11,431 19
08:39:59 0.1685 6,635 11
08:21:45 0.1975 303,797 600
pendulum
 
Posts: 5
Joined: Feb 2018

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 3:02 pm

So your new hidden name is Pendulum is it

I thought it was Rainbowbottom or as Celtic says Yuff1965 or any of the other VERY BITTER MULTI BANNED ID EX-SHAREHOLDER TROLLS

Are you obsessed with Celtic ?, maybe want a date with him or something ? Why not have a beer with all the other trolls on LSE - oh hang on, I see most have been banned again

Im sure the good folks on Worldstocks dont need to hear your trolling crap over here & best advise you take your shite back to LSE

Admin, this is 1 nasty false, fake and misleading bitter and twisted multi id ex-shareholding troll. Im sure hes not the sort of person you need over here after the past problems with Oma. May I suggest you review & take appropriate action accordingly.
Thank you & sorry for having to post this warning
1974bickers
 
Posts: 4
Joined: Mar 2018

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 3:12 pm

Well, what a friendly knowledgeable bunch you guys are.

And 1974bickers, from the caps lock shouting tone you use , it appears that you are very bitter, so it seems ironic that you accuse me of being so.

That said, Range's history does make people bitter, as is evidenced by you 1974bickers, and your venting your anger through the caps lock at me.

So you made a bad judgement call, shite happens, get over it, and stop shouting.


How is correcting someone posting incorrect information "trolling"

Go easy on the caps lock and calm yourself down.
pendulum
 
Posts: 5
Joined: Feb 2018

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 3:40 pm

You can’t correct something that is not wrong, look at the main body of the candlestick that is the clue
Celticheart07
 
Posts: 188
Joined: Jul 2013
Location: Wales

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 3:57 pm

Celticheart

What time frame are you using on your candlestick chart. Try the 1 minute candle, or Tick Line and you might see better where you are going wrong.

Actually, don't even look at the chart, as it seems to be confusing you.

Charting aside, just look at the trade history on Friday, and the facts.

All sells went through well below 0.1750, so how can 0.1750 be support if it continually traded below it on Friday.

All the 11 times someone sold on Friday was below 0.1750, including the 1 million sell that went through at 0.1685, so it is not just someone putting on a small "DMA" trade.

I do wonder now if you are just having a laugh, or if you really are so ignorant of the basics.

If it is down to lack of knowledge, I suggest you educate yourself on support, resistance, advertised spreads as well as DMA vs Quote driven trading.

Then start on charting and timeframe analysis.

Like I said, this is all really basic stuff that any kid would know before they start investing, and I am guessing you are not a kid. Apologies if you are.
pendulum
 
Posts: 5
Joined: Feb 2018

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 5:20 pm

Ignoring the usual insulting tone of your post, I am
used to it over on LSE, who in their right mind would use a 1 minute timeframe on a chart? Well I guess the answer to that is obvious, nobody in their right mind.
Celticheart07
 
Posts: 188
Joined: Jul 2013
Location: Wales

Re: Technical Analysis - Charts and Stuff

Post Sat Mar 03, 2018 7:42 pm

Again, ironic that you say I use an insulting tone and then you say "who in their right mind" after rambling on at me in your initial response to me correcting your post.

Are you and 1974bickers related, as you both have a similar manner about you?

I will explain short timeframes to you, but this will probably be the last lesson I will give you, as it has started to feel as though I am trying to teach Differential Calculus to a 2 year old and it has become tiring.

Whatever timeframe you are using is obviously not working for you as you think Range is sitting on 0.175 support when 11 trades went through below this on Friday alone.

Looking at these intraday prices, the shorter the timeframe the higher resolution you will see.


Lesson 3:

Imagine if your watch had only 12 divisions with no minute markings (1 hour timeframe).

Now look at your watch that has 60 divisions with 1 minute markings (1 minute timeframe)

I will leave it for you to work out which watch face will give you the most accurate reading.

Candlesticks main use is that they show sentiment at a quick glance.

For accuracy and trend analysis, tick line charts are probably what most will use daily.


I don't expect you to grasp these basic concepts as you still think Range is sitting at 0.175 support when every one of the 11 sells that took place on Friday was between 0.158 and 0.1685. (For reference, 0.1685 is lower than 0.175).

Good luck with your investing ventures. I think you will need it.

https://www.thebalance.com/choosing-the ... me-1031096
pendulum
 
Posts: 5
Joined: Feb 2018

Re: Technical Analysis - Charts and Stuff

Post Sun Mar 04, 2018 1:05 pm

Un-welcome back Yuff / Rainbow etc etc etc etc etc etc etc etc etc etc etc

Now please do one back to LSE where you & your fellow scumbags hang out
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Loadsamoney
 
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Re: Technical Analysis - Charts and Stuff

Post Thu Mar 08, 2018 7:04 pm

Whilst suspicious of the newbie, in this instance it speaks some sense. Support looks to be around 0.15p, although I would listen to Tony rather than any addicted BB wibbler for confirmation.
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ErraticPhil
 
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Location: In the land of snap, crackle and POP

Re: Technical Analysis - Charts and Stuff

Post Fri Mar 09, 2018 9:38 am

ErraticPhil wrote:
> Whilst suspicious of the newbie, in this instance it speaks some sense.
> Support looks to be around 0.15p, although I would listen to Tony rather
> than any addicted BB wibbler for confirmation.

Phil Until the spread changes to something near normal then this is just a MM plaything.. Why would you buy shares where you are automatically 30% 50% down.??. They need to close the bid/ask to get some interest here.. No amount of TA will change that..
TONY THE TIGER
 
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