Analyzing Stocks Thru Charting: Knowing Your Chart
One of the stock investing strategies is charting. However, it is more complicated that the fundamentals. But what is complicated now can be made easy as long as we study and research about it. There are several techniques in using the chart like candlestick charting, point and figure charting, etc. But to start, let us know our chart first. Chart presented is the COLFinancial chart since it is more commonly used.
Let us get acquainted with some of the highlighted command actions in the Java Charts. By the way, you need to install java in your browser and allow it to run.
The toolbar menus show action buttons when clicked upon should render some change in the chart display. Many of them work like an on/off button to activate and deactivate. You can change your screen defaults by pressing on the Settings button on the right then make sure to click on the Save button again to lock in your changes.
Some Other Functions
COL’s Java Charts can also access certain special tools and features by right clicking on its white chart background. You can turn on or off some highlights and choose to draw trendlines, support/resistance levels, Fibonacci retracements, text boxes, or arrows. You can also edit things you’ve drawn by moving it or by deleting it.
You can draw objects by first choosing the type of object you wish (i.e. Trendlines, Horizontal Support/Resistance Lines, Fibonacci Retracement Zones, Regular Retracement Zones, Texts, or Arrows) then by left clicking on the chart area to start drawing lines, dragging the mouse to your intended area, the letting go when done. Channel lines can be drawn by moving your cursor to the trendline you wish to duplicate then pressing Shift-Ctrl-Left Click on the line then dragging the line to your intended target.
The Inhim Business Consultancy TeamTags: charting, financial investments, financial management, stock charting, stock market investing