white_crane
Jedi Master
- Joined
- 25 August 2008
- Posts
- 400
- Reactions
- 1
I just thought I would put this up for discussion/analysis.
The chart is CAH.
The software has identified it as a potential ABC correction, the C=A which is preferable and the overall retracement is in the zone.
Based on the pattern to this point the software has projected a minimum target of 2.31 with a R/R of 3 if it is reached (out of sight further up the chart is a typical projection of $2.55).
The second last volume bar (highlighted) has been identified as being of significance (VSA influence) as indicated by turning red.
There are a number of positive signs on this chart but there is the underlying influence of the market correcting the sector containing a lot of these stocks over the last few days which will likely continue into Monday.
(click to expand)
Happy to discuss it but its not a breakout perhaps we should have a "Technical opinion on charts" thread
Happy to discuss it but its not a breakout perhaps we should have a "Technical opinion on charts" thread
I will post it up again when it breaks out in just over a week
Bought a rye smile to my dial!!
Shoes
COE really is reacting to volume zones as expected.
There just doesnt seem to be that effort required to accelerate the stock forward.
It just keeps getting bogged down by sellers as it stumbles forward.
Excellent commentary on your analysis.
Tech just on the top chart in your last post I'm assuming your signal bar is the breakout bar? If so do you have an entry rule being the signal bar is the breakout bar? Or would you wait for a confirmation of a confirmed break that hasn't failed?Thought Id go back over charts mentioned and add to commentary.
Charts only posted if there is something interesting to show.
CAH As expected now in the resistance zone without any real buying to launch this stock to new highs.Has been a good 30% in the move since noticed.
BMN consolidating as expected after its strong move up.Testing the high nothing to report just yet.
VOR as expected was a poor example
BRM
Powering along nicely and proving a solid move can continue to occur without strong volume.
GXY consolidating and not showing signs of anything much.
Bau
Interesting and could be a potential candidate for some addition to a position.
The correction is a little deep indicating some ranging before a direction is found
WHC doing well.
UXC struggling
HIG not showing a tendancy towards weakness but not going on with it either.
SDM
testing highs with a good reversal today on very little volume-- so not much selling
Thanks $20shoes for the information.Vista and windows 7 have their own image capture utility - Snipping Tool.
Open Snipping Tool by clicking the Start button, clicking All Programs, clicking Accessories, and then clicking Snipping Tool.
More detail here:
http://windows.microsoft.com/en-US/windows-vista/Use-Snipping-Tool-to-capture-screen-shots
That's the hard bit done, Snake. Now there's no excuse
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will contribute when i have some patterns to show. Interesting thread.
Tech just on the top chart in your last post I'm assuming your signal bar is the breakout bar? If so do you have an entry rule being the signal bar is the breakout bar? Or would you wait for a confirmation of a confirmed break that hasn't failed?
Here is tech's method of trading Breakouts.
Not entirely disclosed but will be good enough.
Here is tech's method of trading Breakouts.
Not entirely disclosed but will be good enough.
(1) I have 2 searches (A) Searches for the first occurrence Using a "latch" of a breakout within the search parameters for the entry for Tech trader so the Formula is public knowledge certainly in Metastock.
I take the majority of my trades from this signal.
(2) (B) Searches for any occurrence of the formula breakout (No latch) I take some trades from this search. but mainly look for "Boggo" type entries on these due to the trade already being underway. It also alerts me of continuation breakouts of stock I already have.
Stops are set at the closest major pivot low.
(3) I pyramid trades quickly if (1) I see a short pullback of 2-5 bars not too deep and very low volume on the pivot Ill buy day after the rise above the pivot and set the stop at the Low volume pivot low,Treated as a separate trade.
(4) I pyramid at the very first higher high from consolidation after the initial trade. Stop at the closest pivot low and this is also a separate trade.
This is NOT easing into a position all positions are full sized trades based upon Fixed Fractional Position sizing.
Exists are
(1) I have a time exit
(2) I have a profit stop exit
(3) I have a discretionary exhaustion signal exit.
(4) I run a trailing stop behind intermediary pivots.
There you go have a play with that.
All Codes are on "that other site".
Thanks Tech, pretty much new they were breakout bars. But, would they be your signal bars too?Sorry Snake too much info.
The condensed version
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