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Saucer pattern/Rounding bottom stocks
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Kauri
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Kauri said:Entered LEI on a developing saucer/cup pattern, but it seems it may have fallen in a hole.( 25 Oct. at $14.50 )
Exited my DMA CFD's (10% down) at ave of $16.65 today. Held for 22 days, after commission and interest is showing a bit better than 130%. ( Exited by my trading rule to sell on first down day after breaking through rim of saucer/cup) May be a tad premature but LEI can fall as quickly as it rises.
Oooops, its hit $16.80 as I write!!!!
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Thats a long time to waityogi-in-oz said:
SSN ..... a monster rounding bottom ..... 1994 - 2005 +
happy days
yogi
RichKid
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This is not addressed to anyone in particular: I'm getting a bit concerned that if we just change the scaling of the chart or do some fancy editing that most charts can be made to look like a rounding bottom/saucer bottom. Please try to be selective folks, generally things are fine but I'm always concerned in case we get carried away and leave the standard pattern and its variations for something completely different (with the inherent risks of seeing false patterns which don't really qualify).
GreatPig
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RichKid
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GreatPig said:
Looks nice GP, appears to have one more congestion area to get through if it is to shoot through.
Kauri
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Hi folks,
SSN ..... remember that chart with the huge rounding bottom,
posted on 16112005, in this thread ..... ???
Well, this may just be enough good fundamental news, to
send SSN into the start of a blow-off top .....
SSN ... and more news out today, after the bell .....
Has bought into more Wyoming production ... !~!
happy days
yogi
P.S. ..... holding SSN.
Kauri
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Kauri
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Kauri
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Kauri
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Kauri
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RichKid
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Hi Kauri
Thanks for those charts, they look like cup and handles as continuation patterns. I believe they are more powerful as a basing pattern where they act to reverse the trend (from my reading of Edwards and Magee's take on saucer bottoms). We could argue though that a sideways consolidation is a 'trend' of some sort but that is probably not accurate. But as a short term bullish pattern in a consolidation they look alright, I take it you view these as such?
I like the look of RHC if it can hold that handle, imo CSR is going to correct in and ABC style EW zigzag or possible double bottom, it's still playing out so I'll just watch.
I think the extended basing formation is what is safest but you seem to have spotted and entered these early so you get to pyramid as well- good stuff.
I think I'm seeing some sort of rounding formation in TLS but it's too early to tell. I'm looking for volume to taper off here as we retest the lows and then another pick up in volume and price, it will take time, several months imho- only half the picture so far.
Thanks for those charts, they look like cup and handles as continuation patterns. I believe they are more powerful as a basing pattern where they act to reverse the trend (from my reading of Edwards and Magee's take on saucer bottoms). We could argue though that a sideways consolidation is a 'trend' of some sort but that is probably not accurate. But as a short term bullish pattern in a consolidation they look alright, I take it you view these as such?
I like the look of RHC if it can hold that handle, imo CSR is going to correct in and ABC style EW zigzag or possible double bottom, it's still playing out so I'll just watch.
I think the extended basing formation is what is safest but you seem to have spotted and entered these early so you get to pyramid as well- good stuff.
I think I'm seeing some sort of rounding formation in TLS but it's too early to tell. I'm looking for volume to taper off here as we retest the lows and then another pick up in volume and price, it will take time, several months imho- only half the picture so far.
Kauri
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Hi Rk,
All the charts bar the last one of COH were posted a month back, have updated the rest in their own threads. RHC is trying my patience at the moment, I trade CFD's and the constant up/down antics without going anywhere is starting to eat away the gains in interest. And ABS ran away and I missed it.. I think I posted a TLS chart the other day, I see a rounding developing too (Minchin uplift).
Saucers/rounding bottoms I find most often as bases but C/H's I find occur a lot as consolidations in trends, quite often tying in with ABC's.
I don't actually pyramid in as such, I use the AIM spreadsheet to exit with the sell safe at 5% with the buy basically disabled, and all cash invested on first purchase i.e no cash reserve. I buy back up to the initial value manually at my pyramid points. Its as close as I'll ever come to averaging down. I also use a manually calculated exit/stop loss. Not as spectacular as the original AIM but a lot safer and more suited to my trading comfort zone.
Cheers... Kauri
All the charts bar the last one of COH were posted a month back, have updated the rest in their own threads. RHC is trying my patience at the moment, I trade CFD's and the constant up/down antics without going anywhere is starting to eat away the gains in interest. And ABS ran away and I missed it.. I think I posted a TLS chart the other day, I see a rounding developing too (Minchin uplift).
Saucers/rounding bottoms I find most often as bases but C/H's I find occur a lot as consolidations in trends, quite often tying in with ABC's.
I don't actually pyramid in as such, I use the AIM spreadsheet to exit with the sell safe at 5% with the buy basically disabled, and all cash invested on first purchase i.e no cash reserve. I buy back up to the initial value manually at my pyramid points. Its as close as I'll ever come to averaging down.
I also use a manually calculated exit/stop loss. Not as spectacular as the original AIM but a lot safer and more suited to my trading comfort zone. Cheers... Kauri
Kauri
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Kauri said:
And topped up @ 54.82 COH
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