Fib Retrace and other pullback trades

[So_Cynical]

DXS - Dexus property caught my attention.
.

 

[bowman]

Bit of a buy/sell tussle going on here for a few days and it's hard to know whether todays opening gap will get filled later in the day.

 

[skc]

MCR... hitting 38.2% retracement from recent high. Hasn't got much immediate support below current price level to trade off however.

 

[Kryzz]

DOM is around the 50% retrace level, nearing previous support/resistance, falling wedge pattern seen on weekly chart, volume has been picking up a bit the last month however with the recent decline, stock up >6% today though.

 

[bowman]

UNX has come back to the 50% retrace and there was a bit of volume there yesterday (along with most U stocks).

Looking for a move up to the 38% level at around 37c, before a further break up.

 

[Boggo]

CSR may be reversing around the 38% level too...

(click to expand)

 

[Boggo]

CVN is in the right area, have we seen the low or is there more downside to come ?

(click to expand)

 

[skc]

CVN is in the right area, have we seen the low or is there more downside to come ?

(click to expand)

Looking promising. High volume reversal today on some good drilling results.

Any gap fill might offer very low risk entry.

I hold a few.

 

[Boggo]

Looking promising. High volume reversal today on some good drilling results.

Any gap fill might offer very low risk entry.

I hold a few.

Agree, may be a bit of resistance around the 57 to 58 area that needs to be overcome.

 

[skc]

AXA - 50% retracement holding well on today's bar.

PGA - not the cleanest of patterns, but in the 61.8% retracement zone. Someone fatfingered a trade today by the looks. Recent 1-for-2 placement done at $1.5

 

[skc]

NUF. Retracement at 61.9%. The gap is only half filled, however.

Take over discussions are ongoing one presumes.

 

[skc]

NUF. Retracement at 61.9%. The gap is only half filled, however.

Take over discussions are ongoing one presumes.

This turned out quite to the script...

 

[skc]

Two biggest gold players showing similar patterns. Great gap fill on LGL, but not quite there yet for NCM.

All depends on the spot gold price I suppose.

 

[johnnyg]

Two biggest gold players showing similar patterns. Great gap fill on LGL, but not quite there yet for NCM.

I think these 2 will be up up and away now skc. Disappointed I didn't set-up a reentry on LGL after getting stopped out on the 25/9/09.

 

[skc]

I think these 2 will be up up and away now skc. Disappointed I didn't set-up a reentry on LGL after getting stopped out on the 25/9/09.

I got stopped out at $2.92, re-entered at $2.86 with super tight stop $2.79... pure luck.

For a goldy yet to reach new high, check out MDL.

 

[skc]

MMX Reversal seems to be playing out, although it dipped deeper than the 62% fib level.

Not sure how high it will go. Wave equality suggests ~$2.40, but that means it needs to power through $2.15 resistance which has held it back for last few months.

Either way the current R:R is still acceptable. I am riding this as of today.

 

[skc]

SGM is at a place where it should turnaround if it is to turnaround.

- 61.8% retracement of last leg up
- Last pivot high at ~$20.3
- Psychological $20 mark has some importance?

If you care about fundamentals, however, scrap metal price is the key.
http://www.purchasing.com/blog/Comm...scrap_prices_dominate_marketplace_chatter.php

 

[lukeaye]

skc,

Funny you should put that up, beat me to it!

not quite on the 61.8% level but on major S/R line.

i bought in today.

As to fundamentals, if i had my ears open to that all the time, id still be short everything

 

[skc]

skc,

Funny you should put that up, beat me to it!

not quite on the 61.8% level but on major S/R line.

i bought in today.

As to fundamentals, if i had my ears open to that all the time, id still be short everything

With charts like this I will only trade when it starts to show sign of turning around... that also makes stop placement easier.

Where do you place your stop if you don't mind sharing? May be on your trading thread if you wish.

 

[Kryzz]

With charts like this I will only trade when it starts to show sign of turning around... that also makes stop placement easier.

Where do you place your stop if you don't mind sharing? May be on your trading thread if you wish.

skc,

what signs do you look for of a turn around? Would you prefer an immediate V shape reversal, consolidation etc? I notice you have the parabolic SAR on your chart, do you use this for entries/stops also? Seems to be a bit of increase in volume on the last couple down days, would that be of concern?

cheers,
shaun