Australian (ASX) Stock Market Forum

NRG Trading

lol, ah well one of us will make money hopefully.

I'm actually pretty close to closing the trade as it is just refusing to move atm.
 
I'm buying a few gold companies at the moment as I think POG has broken what was a downtrend from the peak. Holding above $860 I thought was the key, and it's looking pretty resiliant right now. Tomorrow may be different....

Holding AZM, LGL, NCM, PRU, and looking to add on weakness and proof of support.

I think golds just about the only thing worth tampering with other than short term trading right now.
 
This wasn't a short term trade for me though and I would have held and topped up on weakness. I wouldn't be surprised for failure at this resistance area, but I've just wanted to get set in some goldies and add, expecting a strong push in POG. I think nomore might have put the short on because of LGL approaching the resistance area which I think was a smart short term move. Would be a shame if he's closed the trade out too early..
 
lol, ah well.

Was a a set up based on the bar from 28.01.09, this sort of set up is a very aggressive but high reward type play.

Will be keeping on my watchlist for a future crack at the trade - $3.40 might provide some opportunities if it gets that high.
 
CTX trade had a good day today, was nearly stopped out yesterday and the Chartist had a short set up on it which was triggered yesterday as well but was stopped out today. My stop is now at B/E, as a close under $8.43 is bearish in my view.

$9.60 is a critical level according to my analysis and any rejection of this area and I will tighten my stops right up and could even end up going short depending on the price action around those levels, as I think we could see a retest of the $6 level if $9.60 fails.
But if price moves up through $9.60 with any sort of strength I will add to my position as we could see prices up around $14.00.
Of course neither of the above might play out so DYOR.
 
nomore4s- one of the hardest things for me is when to take profits. At the moment its in a good up trend, but i am a swing trader mode and will sell on any weakness. That weakness could happen if it breaks down today as its hit a resistence level at 9.16 with the next major resistence at 9.38. Oh my G-d it just dived as i am writing this to 8.79. lol
will exit on the way up - I am avoiding the the words of death " what happened".
 
Iron Man, a couple of questions.

How did you get resistance at $9.38? I can't find any resistence on my charts at that level.

Are you trading with CFD's?

What target price were you trying to achieve with CTX?

I tend not to worry about intraday swings too much as I trade off EOD charts, where price finishes is the main thing. Things like the 36c drop will happen on occasion for various reasons and if I get stopped out so be it.
 
nomore4s-

I bought CTX on a bar setup that I read recently. It worked but the setup doesn't give price targets. I have my own indicator that forecasts price levels like fib stuff. I can use it on any most time frames. In this case two time frames came together as warning signs. The drop was maybe a fake out and yes its the long term that counts. I am sick of seeing my profits come and go. So I got out. OF course it could keep going. I can always find another setup to re-enter. ps. A similar case was with SUN today, I bought at 5.53 it hit 5.71 -price level and then came down. Of course this is only short term stuff I guess.
I am currently flat
 
Sorry for the late update but been busy.

Long BHP @ $33.47 x 150 w/stop @ $31.97
 
9.38 is a short term resistence point. As per today it hit it and stayed under. lol.

On the big picture if it stays above 9.21 or goes above 9.38 its all good.

Unfortunately I was too focused on the short term to stay with it.

I live to learn.
 
1 trade today MND @ $6.05 x 1000 w/stop @ $5.80

Wouldn't belive it but was stopped out of BHP today by 1c dammit.
BHP closed @ $31.96
 
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