tech/a
No Ordinary Duck
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test.
Amazing even a duck can do it.
Amazing even a duck can do it.
Learning Technical Analysis Q&A
- Thread starter tech/a
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Can we analyse this chart - BHP - as an example? I am not trading this stock, just want to get an example of using T/A.
50EMA and 2 trend lines drawn in. SP is below the 50EMA.
Triangle forming, can it be determined if there will be a breakout, by looking at this chart?
nulla nulla
Positive Expectancy
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Thanks
Basically i'm pretty terrible at techincals and want to learn as much as I can from Tech/a's thread. One of the stocks I currently own is MML and its been sold down pretty heavily of late. There was a small downgrade in this years output due to upgrades on mine site to increase production in the future. This coupled with a top holder selling down some of there position has put selling pressure on the stock from what I can tell. I think the future is bright and they will be well above current prices at some stage, but thats my fundamental view.
From a technical view i've posted the following chart to see if i'm on the right track about how things could play out from here. If it were to play out as i've shown below would it be considered a buy and likely to move back towards the $8+ mark. Or am I dreaming and just looking at this the wrong way completely. The orange lines are what I considered may be resistance bands on the way down.
Thoughts/Comments?
From a technical view i've posted the following chart to see if i'm on the right track about how things could play out from here. If it were to play out as i've shown below would it be considered a buy and likely to move back towards the $8+ mark. Or am I dreaming and just looking at this the wrong way completely. The orange lines are what I considered may be resistance bands on the way down.
Thoughts/Comments?
tech/a
No Ordinary Duck
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Kermit.
This has shown a very strong reversal today and the low of today would be the Stop.
I can go into more analysis tonight if you like its a classic.
Whether it is a classic or not is probably not really for me to say as my knowledge on technical analysis is very limited on comparison to yours and others.
So what your saying is that the low of today would be the stop and possibly if you saw a continuation of the reversal tomorrow thats where you may buy in?
Would definitely be interested in your further analysis as it looked like a good example of a stock falling quickly past initial resistance to a point where it could consolidate and reverse or continue free-fall. Obviously as I hold the stock I have some personal interest but i'm extremely interested in the technical view of what has played out and what the future may hold etc.
I feel like I can identify trends, resistance etc ok as they happen but lack the understanding of what they mean, why it has happened and where it can go from here.
Happy to either discuss here for everyones value or via PM as well Tech/a.
Cheers
So what your saying is that the low of today would be the stop and possibly if you saw a continuation of the reversal tomorrow thats where you may buy in?
Would definitely be interested in your further analysis as it looked like a good example of a stock falling quickly past initial resistance to a point where it could consolidate and reverse or continue free-fall. Obviously as I hold the stock I have some personal interest but i'm extremely interested in the technical view of what has played out and what the future may hold etc.
I feel like I can identify trends, resistance etc ok as they happen but lack the understanding of what they mean, why it has happened and where it can go from here.
Happy to either discuss here for everyones value or via PM as well Tech/a.
Cheers
tech/a
No Ordinary Duck
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Just a quick couple of charts
You can see clearly where the buyers jumped in on this 5 min chart
This is likely to struggle through the resistance seen at this level.
Its clear on the 5 min chart.
How it reacts (Price) to this level will tell a lot.
Resistance---its not done exhausting yet.
Powers through resistance---renewed buying.
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The 100k on the bid was pretty active too. Moving up price levels trying to get filled.
Once that started going the buy side kept refreshing anything that got taken out
Once that started going the buy side kept refreshing anything that got taken out
tech/a
No Ordinary Duck
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WDR
NST
Both similar today both bought.
Lots of reversals heralding a positive day tomorrow
FTSE DAX and DJIA Futs up
explod
explod
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On looking at the one day two year chart for NST I find it interesting the number of times it has retraced each new move up. And yes a classic today with the gap closed right on the spot.
However, we will see.
tech/a
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Do you think a wise entry last night (for EOD trading) would have been placing a buy-stop one tick above the close of the 23/11 bar on each of those?
In the VSA Club webinar it was suggested that often it is better to enter on a buy-stop like this, rather than entering on the close of the 23/11 because often the trade can go in the opposite direction the following day.
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Also very interested in Learning Technical Analysis Q&A
tech/a
No Ordinary Duck
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There are a myriad of entry techniques.
Yes a forward buy stop is one.
If you have a watch list you could place a buy stop at the close of the previous period (or 1 Tick above).Personally I like tighter stops.
As shown here.
Tech/a,
I can see what you mean with NST looking similar over the past few days.
So at the moment it looks like MML hasn't finished exhausting at the $5.50 resistance yet, but looks set to do almost a perfect U shaped return to approx the $7.05 level. So by looking at the charts and based on what you've shown is my understanding correct:
Yesterday looked to be the pivot point of the downward selling pressure and would signal a reversal particularly once the buying has exhausted the selling resistance and there is a push through $5.50. This would set up the following trade:
- Buy now while still at the pivot point ready for leg up
- Have a stop at $5.13 (low set yesterday)
- Monitor progress to the $7.05/$7.06 mark as they were the closes made on the 8th and 9th of this month, if heavy resistance met at this point exit profitable trade?
Is that the correct thinking? It looks like its setting up pretty well as far as I can tell?
I can see what you mean with NST looking similar over the past few days.
So at the moment it looks like MML hasn't finished exhausting at the $5.50 resistance yet, but looks set to do almost a perfect U shaped return to approx the $7.05 level. So by looking at the charts and based on what you've shown is my understanding correct:
Yesterday looked to be the pivot point of the downward selling pressure and would signal a reversal particularly once the buying has exhausted the selling resistance and there is a push through $5.50. This would set up the following trade:
- Buy now while still at the pivot point ready for leg up
- Have a stop at $5.13 (low set yesterday)
- Monitor progress to the $7.05/$7.06 mark as they were the closes made on the 8th and 9th of this month, if heavy resistance met at this point exit profitable trade?
Is that the correct thinking? It looks like its setting up pretty well as far as I can tell?
tech/a
No Ordinary Duck
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Thats the plan.
Currently its put in a pivot low.
I expect that to be tested.
Currently its put in a pivot low.
I expect that to be tested.
Tech/a,
Looks like there are some early signs that the MML trade may be profitable. Will be interesting to see how the rest of this week plays out.
On the subject of your latest post - gaps. I known you like to trade the smaller cap stocks but I was looking at Woodside today and found the chart interesting. Has the action over the past 2 trading days (inclusive of today 25th and 28th) been possibly filling the gap from the 5th/6th of October? I know your examples were in relation to the days following the gap but was just interested in this scenario.
If today's volume remains relatively light compared to the last few trading days would you suggest that it could turn positive and possibly look at making an entry with a stop of $32.15? The only concern that i'm not sure about is the fact that while the gap looks to be filled, today it opened higher but is still down quite a bit, but is that less concerning given the lighter volume?
Cheers
Looks like there are some early signs that the MML trade may be profitable. Will be interesting to see how the rest of this week plays out.
On the subject of your latest post - gaps. I known you like to trade the smaller cap stocks but I was looking at Woodside today and found the chart interesting. Has the action over the past 2 trading days (inclusive of today 25th and 28th) been possibly filling the gap from the 5th/6th of October? I know your examples were in relation to the days following the gap but was just interested in this scenario.
If today's volume remains relatively light compared to the last few trading days would you suggest that it could turn positive and possibly look at making an entry with a stop of $32.15? The only concern that i'm not sure about is the fact that while the gap looks to be filled, today it opened higher but is still down quite a bit, but is that less concerning given the lighter volume?
Cheers
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Hi tech/a,
I noticed that you mentioned last week in this thread that the Dow futures were up, DAX up and the FTSE up too (I think, from memory). The next morning; asx200 drifted lower. Opposite to even what l was thinking.
I often look at the futures markets to try to get an indication of where the markets might be heading, however, l take it with a pinch of salt.
Do the futures markets (overseas) ever have an effect on an order or do you just use it as a indicator/quick glance?
Found it, post 69 in this thread;
I noticed that you mentioned last week in this thread that the Dow futures were up, DAX up and the FTSE up too (I think, from memory). The next morning; asx200 drifted lower. Opposite to even what l was thinking.
I often look at the futures markets to try to get an indication of where the markets might be heading, however, l take it with a pinch of salt.
Do the futures markets (overseas) ever have an effect on an order or do you just use it as a indicator/quick glance?
Found it, post 69 in this thread;
tech/a
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MML Update
It has me looking in the direction of the index
EG tonight Im looking for and finding Bullish trades and corrective set-ups on the FTSE.
But each trade must stand on its own.
If its clear the market doesn't agree with an indication from O/S then I dont force it!
WPL
Clearly bearish.
It has me looking in the direction of the index
EG tonight Im looking for and finding Bullish trades and corrective set-ups on the FTSE.
But each trade must stand on its own.
If its clear the market doesn't agree with an indication from O/S then I dont force it!
WPL
Clearly bearish.
tech/a
No Ordinary Duck
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MML
Classic---as expected.
1HR Chart
Classic---as expected.
1HR Chart
