Outstanding Breakout Alerts!
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tech/a
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Re: OUTSTANDING BREAKOUT Alerts!!
Yeh, good chart above nomore. A good representation of times where I find VSA the most obvious, and therefore of best use.
Yeh, good chart above nomore. A good representation of times where I find VSA the most obvious, and therefore of best use.
Rockon2
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Re: OUTSTANDING BREAKOUT Alerts!!
Tis a good breakout,, v nice nomore4's.......
But imo this thread is about Outstanding Breakout Alerts,,, so where did u go long?
Whats ur analysis.. where n when should u go long
Tis a good breakout,, v nice nomore4's.......
But imo this thread is about Outstanding Breakout Alerts,,, so where did u go long?
Whats ur analysis.. where n when should u go long
Re: OUTSTANDING BREAKOUT Alerts!!
Went long on 29.12.08 @ $2.42 w/stop @ @$2.17.
Was on my watchlist since the first volume bubble marked. After 2nd and 3rd bubbles was just waiting for an entry opp.
After the upthrust (failed attempt at resistance on 15.12.08) I just waited to see how the stock reacted and where support would come in.
Once $2.20 proved support (gap up on 24.12.08) I took a position - should have waited for the gap fill but.....
While taking a position before resistance like that might not be everyones cup of tea even if it stalled there again it would have been nearly a 2r thrade anyway.
Now more importantly how to play it now
I will take another position (even if I've already exited current position) on a retrace now if certain requirements are met.
Reduced volume
Tight ranges
And depth of retrace
IMO this where this thread can be useful - may miss the breakout but can enter on retrace or test of breakout zone. Can get some good low risk entries like this.
Enough info for you now:
Went long on 29.12.08 @ $2.42 w/stop @ @$2.17.
Was on my watchlist since the first volume bubble marked. After 2nd and 3rd bubbles was just waiting for an entry opp.
After the upthrust (failed attempt at resistance on 15.12.08) I just waited to see how the stock reacted and where support would come in.
Once $2.20 proved support (gap up on 24.12.08) I took a position - should have waited for the gap fill but.....
While taking a position before resistance like that might not be everyones cup of tea even if it stalled there again it would have been nearly a 2r thrade anyway.
Now more importantly how to play it now
I will take another position (even if I've already exited current position) on a retrace now if certain requirements are met.
Reduced volume
Tight ranges
And depth of retrace
IMO this where this thread can be useful - may miss the breakout but can enter on retrace or test of breakout zone. Can get some good low risk entries like this.
Enough info for you now
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Re: OUTSTANDING BREAKOUT Alerts!!
Knowing support that is real helps here. Nice stuff Rockon!Hi Guys,, One that stood out for me today was MGX...
and what i do diff is i count a break out as per the red line on chart not the blue......
works for me..
anyway a clear goer imo,,, should make some $ tomorrow
Rockon2
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Re: OUTSTANDING BREAKOUT Alerts!!
Thank You Snake....
Its ALL about supps n resist,,, nothing else matters.
btw got up a 4.30 am WA time, n shorted the Jo (slang for xjo in other chat rooms) ...... in @ 3730 out at 8.15 am @ 3700
And exited amp on the open / rightly or wrongly.
will hold MGX till oed
Thank You Snake....
Its ALL about supps n resist,,, nothing else matters.
btw got up a 4.30 am WA time, n shorted the Jo (slang for xjo in other chat rooms) ...... in @ 3730 out at 8.15 am @ 3700
And exited amp on the open / rightly or wrongly.
will hold MGX till oed
Rockon2
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Re: OUTSTANDING BREAKOUT Alerts!!
MGX does not hold my criteria as a hold....
Exit at a loss.... 1.5 cents + brockerage
Reset a buy back at 51.5 on a close..
On to the next.
MGX does not hold my criteria as a hold....
Exit at a loss.... 1.5 cents + brockerage
Reset a buy back at 51.5 on a close..
On to the next.
Sean K
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Re: OUTSTANDING BREAKOUT Alerts!!
Can you define your criteria for an OUTSTANDING breakout Rockon, because MGX never was to me, and probably to a few others here. Cheers.
Rockon2
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Re: OUTSTANDING BREAKOUT Alerts!!
Have you read anything that ive posted ??
MGX..... As i previously posted,,, I do it a bit diff, in what i call a break out
( go long now ! signal )
as per the previous chart, my break is from price going thru the close of last big green ( candle / bar ) ...
Why do I do this ???
Well I reckon because thats what other smart traders see,, and if you look
at this intraday chart over last 5 days ,, you can very easily see where she
broke and where the volume came in to support it...
Its a clear cut method with rules on how I trade breaks
Have you read anything that ive posted ??
Rockon2
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Re: OUTSTANDING BREAKOUT Alerts!!
I see the diff between the threads, Potential Breakout alerts and
Outstanding Breakout alerts, as being something that gives the trader an inside edge on getting onto a long trade eariler than most...
My method does this, as posted.... Just because the stock (mgx) never kept
going today and fell back along with the rest of the mkt doesnt mean
my Rules/ method doesnt work most of the time..
Am I making any sense ?
I see the diff between the threads, Potential Breakout alerts and
Outstanding Breakout alerts, as being something that gives the trader an inside edge on getting onto a long trade eariler than most...
My method does this, as posted.... Just because the stock (mgx) never kept
going today and fell back along with the rest of the mkt doesnt mean
my Rules/ method doesnt work most of the time..
Am I making any sense ?
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Re: OUTSTANDING BREAKOUT Alerts!!
I understand what you are getting at Rockon2.
I run a couple of different scans in Metastock which worked well at finding short picks but are now finding some good long entries.
Both of these are "heads up" scans, I have attached MGX below, two "heads up" alerts, one on the 17th and the second on the 18th.
I see both of those signals as potentials, and in hindsight taking a punt after either one you would have a better than breakeven locked in with a stop at $0.405.
Both the 'Potential Breakout Alerts' and the 'Outstanding Breakout Alerts' are great threads and do get to the point, however, (sorry tech/a) the latter should probably have been named "Outstanding Breakout Events" as it has to have actually occurred to be outstanding.
I didn't trade MGX but there have been many recent similiar trades, some I have posted in these threads and those combined with a few Elliott Wave shorts (CPU, NCM etc) have been or are "potentially outstanding" and have kept me busy.
Sorry for the waffle on.
(click to expand)
I understand what you are getting at Rockon2.
I run a couple of different scans in Metastock which worked well at finding short picks but are now finding some good long entries.
Both of these are "heads up" scans, I have attached MGX below, two "heads up" alerts, one on the 17th and the second on the 18th.
I see both of those signals as potentials, and in hindsight taking a punt after either one you would have a better than breakeven locked in with a stop at $0.405.
Both the 'Potential Breakout Alerts' and the 'Outstanding Breakout Alerts' are great threads and do get to the point, however, (sorry tech/a) the latter should probably have been named "Outstanding Breakout Events" as it has to have actually occurred to be outstanding.
I didn't trade MGX but there have been many recent similiar trades, some I have posted in these threads and those combined with a few Elliott Wave shorts (CPU, NCM etc) have been or are "potentially outstanding"
and have kept me busy.Sorry for the waffle on.
(click to expand)
Attachments
Re: OUTSTANDING BREAKOUT Alerts!!
HI everyone,
Sorry, I don't know where to post.
But I know that PVE (Po Valley Energy) has been having a marvellous breakout.
It pushes ahead from AUD$1.00 to AUD$1.48 within hours of it announcing that it has sold it's first load of gas to Italian company.
This company, PVE , in my opinion is:
a) Well managed by an ex-McKinsey consulting man, Mastermann
b) Seizes opportunity by digging for gas in Italy when the Government liberates the industry a few years ago
c) And now, it is seizing the opportunity of the panic of Gas Supply caused by Russian stopping it's sale of gas to Ukraine, which ??? indirectly affect gas supply to European nations.
This raises calls from new players like Po Valley to highlight the need for nations to dependence on LOCAL supply, as much as possible.
It went to as high as 1.80 yesterday, today retreated to 1.64 I believe.
Do some studies on PVE........Cheers. .........Agathos.
HI everyone,
Sorry, I don't know where to post.
But I know that PVE (Po Valley Energy) has been having a marvellous breakout.
It pushes ahead from AUD$1.00 to AUD$1.48 within hours of it announcing that it has sold it's first load of gas to Italian company.
This company, PVE , in my opinion is:
a) Well managed by an ex-McKinsey consulting man, Mastermann
b) Seizes opportunity by digging for gas in Italy when the Government liberates the industry a few years ago
c) And now, it is seizing the opportunity of the panic of Gas Supply caused by Russian stopping it's sale of gas to Ukraine, which ??? indirectly affect gas supply to European nations.
This raises calls from new players like Po Valley to highlight the need for nations to dependence on LOCAL supply, as much as possible.
It went to as high as 1.80 yesterday, today retreated to 1.64 I believe.
Do some studies on PVE........Cheers. .........Agathos.
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Re: OUTSTANDING BREAKOUT Alerts!!
That is your general definition of an OUTSTANDING breakout?
Roger.
Your criteria is this:
That is your general definition of an OUTSTANDING breakout?
Roger.
Rockon2
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Re: OUTSTANDING BREAKOUT Alerts!!
An outstanding break is when a significant trend is broken. Not a few days consolidation.
It might be breaking up from this little triangle, but until the previous high is beat, it's still going sideways, imo.
Nice volume, but called this one too early as well I think Rockon.
An outstanding break is when a significant trend is broken. Not a few days consolidation.
It might be breaking up from this little triangle, but until the previous high is beat, it's still going sideways, imo.
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Re: OUTSTANDING BREAKOUT Alerts!!
Kennas if you move your resistance line down to around the 2.8-3c mark it looks like a cup & handle pattern with price now consolidating above support at 3c, and price is now meeting the next level of resistance at 4c
Kennas if you move your resistance line down to around the 2.8-3c mark it looks like a cup & handle pattern with price now consolidating above support at 3c, and price is now meeting the next level of resistance at 4c
Rockon2
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Sean K
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Re: OUTSTANDING BREAKOUT Alerts!!
This has simply been trending up in my opinion, which now looks very vulnerable. Hope 3 holds for you.
I think this is your second OUTSTANDING breakout that's immediately fallen over Rockon. Perhaps you need to review your definition of an OUTSTANDING breakout.Im happy
This has simply been trending up in my opinion, which now looks very vulnerable. Hope 3 holds for you.
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Re: OUTSTANDING BREAKOUT Alerts!!
tech/a your a true contributor to the online trading community, I remember conversing with you back in day on reefcap, I remember you were using techtrader a trend following system, do you still use that? long-side only trading would be pretty tuff in this environment I would imagine.
tech/a your a true contributor to the online trading community, I remember conversing with you back in day on reefcap, I remember you were using techtrader a trend following system, do you still use that? long-side only trading would be pretty tuff in this environment I would imagine.
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