Hi T.I.
Well I am still holding SEK, cant see how/why you would sell this one..
In regards to when to buy, if daytrading speccies its best to buy right before the close or even closing auction. Opening strength is great for selling into.
Now i trade EOD, I buy the open and sell the open. If i pay a bit more it doesnt matter as holding time is typically several weeks or months.
No probs Can, happy to keep this thread alive and everyone else is welcome to chip in.
So here is ORI. It had formed an ascending triangle and today seems to have broken out of it. Volume is looking positive and RSI is touching 60. So a trend is definitely forming.
Apologise for the graph as haven't got Amibroker here at work
your opinion guys. Would it qualify as a low risk entry ?
A little of topic here (sorry Can) but this stock has been mentioned on this thread before, albeit very briefly.
Motorway (and/or others) I'm looking for some feedback on the following chart from CFE.
The day I'm worried about is the bar marked with the 1. Pushed up to 72c but sold back down with increased vol to finish well off the highs for the day. The last 2 days have been pretty weak as well, wide range down days on lowish vol (not much demand, supply having to reach).
What I'm seeing is some distribution above the 70c area - orange box, vol drops off once prices get under 70-72c (alot of resistance forming at 70c). The next rally is the important one for me, if prices fail to make a new high or even get back to the 70-72c area (forming a trading range?) it will be a bad sign especially if a lower low is made after that. Like I stated on the CFE thread I will be exiting my remaining holdings if a lower high is made.
Am still struggling a little with the VSA analysis, find it verying interesting though and has opened my eyes a bit, makes me realise how much I can improve my trading, my entries and exits could be so much better lol
Wyckoff Exit Strategies
In Order of Degree of Desirability
EXIT STRATEGY # 1
Take profits, eliminate positions, exit the market upon a climax action in the price objective zone . You cover your position when you see the climax in the price objective zone
EXIT STRATEGY # 2
Exit the market when there is repeated evidence that the current trend will not continue, and indeed may reverse.
Periodically monitor the market, the group and the stock for price and volume clues that warn of trend exhaustion.
“Act on warnings. Don’t wait for the breaks.”
EXIT STRATEGY # 3:
Exit the market automatically upon the hitting of a trailing stop (loss) order…this is the back up strategy.
From a Hank Pruden article on Wyckoff exit stategies taken from Wyckoff's Course
The study of responses ... is an almost unerring guide to the technical position of the market."
- Rollo Tape (Richard Wyckoff), 1908
In the 1929 crash. Initially many stocks stopped falling because there were no longer ANY buyers...
So It is important to see a reaction OFF a low and not just a stop to the movement down......
This one had a pretty strong day Ronin, you get on it? If you caught it early enough it might have been ok, say an entry around $30.50-$31.00 and a stop just under $29? Not really sure if I'd call it low risk though, high probability maybe?
I'm with Can on this one, the long term trend is up.
But it's starting to look a bit shakey, with it currently under the 30week MA, the MA turning downward and the relative strength currently downward as well. There's enough suggesting it may be better to be on the sidelines for the time being.
This will be an interesting one to watch, with it being at the long time trend line, alot of support in general at the $1.70 level (especially on Fri - massive vol but high vol has come in a few other times at this level), and the H&S pattern. Does anyone know how long the H&S pattern remains valid for? ie If another wave takes the sp back up to the $1.95 level it will look more like a trading range to me.
. A spring is a penetration below a previous support area which enables one to judge the quality and quantity of supply on that penetration .............As the stock goes into new low ground one of two things will happen. Either overwhelming supply will come in or no supply. .
The CRITICAL thing that is shown by the SPRING is the AMOUNT of SUPPLY that COMES OUT on the DRIVE to NEW LOW GROUND and HOW WELL that SUPPLY IS ABSORBED
an ACTION which shows that DEMAND is in control. .. should have GOOD DEMAND on the UP MOVE, a WIDE SPREAD and INCREASING VOLUME on the UPSIDE
Just a quick update. I've been stopped out of MRE. I'm planning on buying TEN today, its been on my watchlist since capitualtion. Try to post more later.
Cheers,
.............
On AIX.... Have a good look at the CFE chart and comments ??
motorway
Can, did you end up getting on PNA, its run like a champ, don't ever listen to me, lol.
Porper, you still in BPT? Looking good, looks to be some resistance at $1.49-$1.50, if it pushes through that it will be looking really good.
Motorway, is the last wave up in the orange box a sign of strength? Last 2 days especially look good with closes at the high with good vol, buyers look to be in control atm.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?