Ascending vs. Descending - In Real Time

[Sean K]

Re: Ascending vs Descending - In Real Time

I'm looking very short term here because of potential market toppiness and I went CFD with this trade, so need to keep it tight. Contracting back to support and has respected it to date. This is a good thing, but breaking down through previous resistance, now support, will be bad karma! Parachute at the ready....

 

[brettc4]

Re: Ascending vs Descending - In Real Time

Kennas,

From my understanding of an ascending triangle, the target price is based on the heigth of the triangle, and therefore around the $27 mark. Is this correct.

Also where did you put your initial stop on this breakout, at around $23, $22.5 or elsewhere and why?

Brett

 

[Sean K]

Re: Ascending vs Descending - In Real Time

Kennas,

From my understanding of an ascending triangle, the target price is based on the heigth of the triangle, and therefore around the $27 mark. Is this correct.

Also where did you put your initial stop on this breakout, at around $23, $22.5 or elsewhere and why?

Brett

Yes, I'd call $27.00 ish target, possibly $27.50 ($20.50 low to $24.00 = $3.50 potential), which is all time high as well, and I'd expect resistance there. Stop on EOD close below $22.50 which is making a lower low from breakout, and breaking uptrend support line.

I'm re-evaluating this as it goes. Breaking $25.00 will be even more bullish IMO, and I might add to the position. After that a trailing stop would be introduced on any significant breakdowns, just depends on how the stock behaves. Watching POG chart as well for breakdowns to influence this.

 

[Dutchy3]

Re: Ascending vs Descending - In Real Time

Hmmm ... back from a weeks break .... NCM, the BULLS having done all the work within the triangle formation are now looking for more in order to drive the SP ... AGK on the other hand ... the BEARS are now exhausted and the break looks ALOT healthier .... Look for bullish breakouts of DECENDING triangles trading above the 30 WEMA ....

 

[CFD]

Re: Ascending vs Descending - In Real Time

Which M/A are you using on the daily charts? (and welcome back)

 

[Dutchy3]

Re: Ascending vs Descending - In Real Time

HI CFD ... 30 day exp move avg

 

[It's Snake Pliskin]

Re: Ascending vs Descending - In Real Time

Hmmm ... back from a weeks break .... NCM, the BULLS having done all the work within the triangle formation are now looking for more in order to drive the SP ... AGK on the other hand ... the BEARS are now exhausted and the break looks ALOT healthier .... Look for bullish breakouts of DECENDING triangles trading above the 30 WEMA ....

Dutchy,

I am quite happy to watch it take some time to get up there, NCM that is. Not weeks, but we don't want those sellers to flood in.


cheers...

 

[Dutchy3]

Re: Ascending vs Descending - In Real Time

Hi Snake

Me too ... NCM was never going to set the world on fire in terms if SP increase. It's a little too 'mature' for that sort of behaviour. Nicely geared into it so can play out over the coming months.

 

[Dutchy3]

Re: Ascending vs Descending - In Real Time

CBH signals its future intentions .... LONG on the close today ... Another heavy volume day too .... this one is being picked up by those with deep pockets ...
Should be looking fine by the end of the week ...

 

[CanOz]

Re: Ascending vs Descending - In Real Time

Going to be very interesting to watch this one. At first i was keen on the triangle break. But after i looked closer i can't get my R/R..so i'll pass on it and see how it pans out...could be tracing out a larger triangle here...good luck Dutchy.

Cheers,

 

[Sean K]

Re: Ascending vs Descending - In Real Time

FGL is getting closer to a decision point...

 

[Sean K]

Re: Ascending vs Descending - In Real Time

CBH signals its future intentions .... LONG on the close today ... Another heavy volume day too .... this one is being picked up by those with deep pockets ...
Should be looking fine by the end of the week ...

Damn! Good pick up. I was in bed before the close so missed this. Still might be a good opp. Cheers!

 

[Sean K]

Re: Ascending vs Descending - In Real Time

NCM gap up over that little resistance $25.00 but it's a big leap to hold onto.

I think this has been a success story for the thread, with the ascending triangle proving to be to be highly probably for a break to the upside. (well, in this one case anyway! LOL)

Now just manage the trade.

 

[Dutchy3]

Re: Ascending vs Descending - In Real Time

Hi kennas

Gaps are good .... agreed especially after a move out of any compression formation. The depth of the last one was about 400 .... so I'm thinking 28.00 at this stage for this reaction

 

[clowboy]

Re: Ascending vs Descending - In Real Time

Damn, NCM turned out to be an awesome trade. Was interesting to watch it unfold and everyones comments, just wish I had of "followed" the trade for real.

Gratz to all that took the trade

 

[Dutchy3]

Re: Ascending vs Descending - In Real Time

It's an amazing day ... if this thing holds up I'll have increased my entire portfolio value by about 15% today. I've never been in a position where each position is in front all on the same day .... gives me some perspective just how 'geared' I am at the moment

 

[clowboy]

Re: Ascending vs Descending - In Real Time

Does OSH qualify?

It would need to break up a bit before a trade I would think? Does todays action on such high volume suggest a failure?

Would apreciate ppls thoughts. thanx

 

[buggalug]

Re: Ascending vs Descending - In Real Time

Hey Guys,

New to this, but how's this one look?

 

[nomore4s]

Re: Ascending vs Descending - In Real Time

Hey Guys,

New to this, but how's this one look?

Buggalug, what's the stock code?

 

[buggalug]

Re: Ascending vs Descending - In Real Time

Buggalug, what's the stock code?

HFA, it's up the top of the chart.