TECK stock. Application of Fair Value Areas into Trading
In my last post I was simply marking points on a chart. In this post I'm kind of trying to trade it. Yes, I am holding a long position in this stock at the moment, so my bias is to the upside. With that I am taking not of the floor turned ceiling as the biggest point of inflection on the chart. I'd really like to see that get broken and some follow through from the lower EMA's to pull the 200 back to the upside.
Also, any comments on how I'm drawing in the Fair Value Areas, as well as excess price are welcome.
Once again, the FVA's bit comes from the book I'm reading entitled "Price Action Breakdown". Just trying to understand and apply the material within the 1st chapter. I have to say it does not give you enough to make a prediction in the 1st chapter alone. That is probably a good thing.
Also, any comments on how I'm drawing in the Fair Value Areas, as well as excess price are welcome.
Once again, the FVA's bit comes from the book I'm reading entitled "Price Action Breakdown". Just trying to understand and apply the material within the 1st chapter. I have to say it does not give you enough to make a prediction in the 1st chapter alone. That is probably a good thing.
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