Here i have done a chart on Santos (STO) This is using gann time cycles.
The all time low for STO is $2.10. I have turned this into 210 calander days and multiplied these forward from the all time low on the 11th June 1993.
I have indicated on the chart the most recent time turn dates and have drawn the long term uptrend support line with horizonal support levels that appear around the low $11 mark. Should price be around this level leading into the turn date i would categorise this as a realativly low risk buy with inital targets to the short term down trend resistance line with further target of repeating range out to the $18 area.
Now we play the waiting game...
About Me
- Scott Williams
- I am a young invester/Trader, i mostly focus on Short term or Intra day trading on the equities or Forex markets. I have recently completed my Bachelor of Commerce double major in Finance and Property. I have also completed my RG146 in securities and Financial planning and while trading is a passion my desire is to work within the stockbroking industry or as a trader for an investment bank. This blog I have set up to help share ideas to others on trades and tips i have picked up from my time in the market. I hope you enjoy my blog and some of my ideas :)
Twitter / scilliams
This blog i have designed for a bit of fun, education and sharing of my thoughts in regards to trading the ASX or general equities trading and also FOREX trading. I am no expert and nothing on this blog should be taken as financial advice, it is merely just a tool for myself to share any trading thoughts i have and for people to enjoy reading :)
Sunday, May 9, 2010
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