The charts that you probably want to see, you straight want to throw away. For example, like this kind of chart where firstly, it is not liquid, so on some days there’s not even much trades being done.
You can see on a trading volume, which is actually very low and at the same time you can’t easily see where are the key horizontal support resistance or where to draw the trendlines thereabout. These are the stocks or the instruments that you totally want to just put it on the side, you don’t even want to look at it. Unless, one day it comes to life again which, that will be a long time usually.
All right. These are the one kind of stocks that I will probably don’t even monitor them closely. I’ll just dump them one side, all right. Then some of the stocks like these are also the stocks which…this is actually the Singapore exchange stock. It’s a blue chip stock, it’s a very huge blue chip stock. But, the thing is, when I look at the chart, alright, it seems like there’s no clear trends that I can observe. There is no place where it shows very clear horizontal support resistance, where it doesn’t keep on crossing over here and there.
You would realize that over time, you realize that you come across many of these kinds of charts. The instrument might be pretty liquid. The instrument might be a pretty big cap or small cap or even big cap, or even blue chip big cap stocks. But the kind of movement that it shows, this is based on a daily timeframe. It just doesn’t allow, for example, my trading strategy with swing trading, to find good points where I can enter and exit easily.
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