TNY - Tinybeans Group

[verce]

For you chartists and technical analysts out there - apparently a Golden Cross has been identified, which means a golden bull run (maybe).

 

[tech/a]

It’s simply a cross of fast and slow moving averages.
Sadly it can cross back

 

[Ann]

For you chartists and technical analysts out there - apparently a Golden Cross has been identified, which means a golden bull run (maybe).

That happened ages ago verce. It is generally regarded as a cross up of the 50dma above the 200dma which was around March 21st. I looked at a shorter term of 5 over 15, that doesn't work either. 21 over 50 was also ages ago. Not sure what they are looking at. I will do a chart and show you the 50 over 200 golden cross on TNY. Old news.

 

[verce]

Thanks @Ann - didn't realise. I was actually just going by what someone said on the other mainstream forum.

 

[Ann]

Thanks @Ann - didn't realise. I was actually just going by what someone said on the other mainstream forum.

The penny finally dropped verce, I need to spend more time on chart forums, I am getting rusty!

The golden cross they were talking about would be the point where the two lines of the symmetrical triangle cross over. I have never heard it called this but I wouldn't be surprised if this is a term chartists on chart forums would use these days. I don't extend my pattern lines, I probably should, good reminder, thank you for the unintended hint!

This is last Friday's chart with those symmetrical triangle lines extended.

 

[willoneau]

Hi Ann, i have read that over the long term golden crosses as indicators don't work. Sometimes they do and sometimes they don't, so which is it now. Time will only tell

 

[willoneau]

Ann now you have noticed a golden cross, does it affect your stop position or exit trigger?

 

[tech/a]

The penny finally dropped verce, I need to spend more time on chart forums, I am getting rusty!

The golden cross they were talking about would be the point where the two lines of the symmetrical triangle cross over. I have never heard it called this but I wouldn't be surprised if this is a term chartists on chart forums would use these days. I don't extend my pattern lines, I probably should, good reminder, thank you for the unintended hint!

This is last Friday's chart with those symmetrical triangle lines extended.
View attachment 94609

Sounds like rubbish to me.
Where do you draw the lines of the triangle?

Seriously there are people trying to place anything they can
find as a positive spin to support their bias.
So would you or anyone looking at this thread think now is
a good time to buy?

 

[Ann]

Hi Ann, i have read that over the long term golden crosses as indicators don't work. Sometimes they do and sometimes they don't, so which is it now. Time will only tell

G'day willoneau
I look at a number of indicators on a chart. I don't think a single indicator is sufficient. If the money flow is positive and the PVI and NVI are positive I am more likely to be bullish on the outcome of something like a 'golden cross' or any potentially bullish chart shape. I also look at the number of buyers to sellers but that is not related to reading a chart, simply an indicator of supply and demand. And yes time is the best test of an outcome!

Ann now you have noticed a golden cross, does it affect your stop position or exit trigger?

I don't hold TNY. I wanted to keep a less biased view, I have always held a more bullish than bearish bias from the start but without the complication of holding. If I held I would feel like I was ramping it, mind you I have been tempted to buy!

 

[willoneau]

Ann i think you need to be in the game and not on the sideline shouting at everyone.
Can get quite confusing for those in the game.

 

[willoneau]

Ann i would like to see how you trade live, you thoughts and trade management as it happened.

 

[Ann]

Sounds like rubbish to me.
Where do you draw the lines of the triangle?

This would depend on whether you are using EOD or High/Lows. If you are drawing on high/lows you would draw from the lowest price paid for the day for the support and the highest price of the day for the resistance. As we are looking at this on a very short term basis then the H/L is a better choice for a chart shape. For longer term charts, EOD is clearer and crisper. The drawing of a shape is an art like any other, it is what the eye beholds. I see shapes on charts long before I commit a line to a chart. I am currently flicking through dozens of US charts for Peter, I can see the shapes within seconds without having to draw them.

I drew a more Bullish symmetrical triangle, you drew a bearish Descending Triangle for TNY. Either can be a valid chart shape for this stock.
One then needs to look at the money flow is it rising? On the weekly it is, on the daily it is leveling off. Then looking at the PVI (the prat meter) it is rising. The NVI (smart money) it is leveling off.

Seriously there are people trying to place anything they can
find as a positive spin to support their bias.
So would you or anyone looking at this thread think now is
a good time to buy?

This is the BIG question everyone asks for any stock they are planning to buy "is it a good time to buy?" We all have to make that decision any time we enter a trade. We need to have a bias before a choice can be made.
That is the reason I like to chart as I can see on Friday it was at what appeared to be a cross roads (golden cross as it was called) on the daily chart. Will it take the high road or will it fail the symmetrical triangle? We will see that at the end of today more than likely. This may be a positive sign for someone looking to enter a trade for TNY. A fail may see it as a signal to exit. That again would need to be a personal decision of bias.

 

[willoneau]

But Ann the question was would you buy it now?
are you confident in the way you interpret the chart to buy it now?

 

[tech/a]

Rubbish meaning Golden X

Lines are in the eye of the beholder.
As are triangles and patterns.

An X itself is nothing more than an intersection
and can be of anything and any color you want
to label it--golden does sound better than black

Flicking through charts is Mandatory for chartists.

 

[willoneau]

Rubbish meaning Golden X

Lines are in the eye of the beholder.
As are triangles and patterns.

An X itself is nothing more than an intersection
and can be of anything and any color you want
to label it--golden does sound better than black

Flicking through charts is Mandatory for chartists.

Flicking through charts saying what you think is fun .
but at least when you say it you tell us exactly were you would buy were you would place your risk (stop) and even were you might get out.
and why you would do it.

 

[Ann]

Ann i think you need to be in the game and not on the sideline shouting at everyone.
Can get quite confusing for those in the game

I wasn't aware I was shouting! I thought I was just offering a chart opinion for what I see. Sorry folks, will try to keep my voice down in future.

Ann i would like to see how you trade live, you thoughts and trade management as it happened.

I find a stock I like, look at my indicators, look closely at the stock and what they do, I draw up support and resistance and any shapes, once it breaks above a resistance I enter. As it rises I draw support lines under it if it is moving fast, or if it is slower I use a moving average. If it breaks below support or MA I am out. Nothing fancy!

 

[willoneau]

I wasn't aware I was shouting! I thought I was just offering a chart opinion for what I see. Sorry folks, will try to keep my voice down in future.



I find a stock I like, look at my indicators, look closely at the stock and what they do, I draw up support and resistance and any shapes, once it breaks above a resistance I enter. As it rises I draw support lines under it if it is moving fast, or if it is slower I use a moving average. If it breaks below support or MA I am out. Nothing fancy!

game metaphor, not you personally unless you were watching a game you loved and couldn't help yourself.

 

[tech/a]

Flicking through charts saying what you think is fun .
but at least when you say it you tell us exactly were you would buy were you would place your risk (stop) and even were you might get out.
and why you would do it.

I have asked Ann before but her response was lets say Obtuse.
I've been waiting for 5 charts to watch her analysis being traded
for sometime now.

 

[willoneau]

find a stock I like, look at my indicators, look closely at the stock and what they do, I draw up support and resistance and any shapes, once it breaks above a resistance I enter. As it rises I draw support lines under it if it is moving fast, or if it is slower I use a moving average. If it breaks below support or MA I am out. Nothing fancy!
would be more interesting to see were you enter and exit and why , not trying to find out your system as you said it's nothing fancy just interested in how you think.

 

[Ann]

An X itself is nothing more than an intersection
and can be of anything and any color you want
to label it--golden does sound better than black

I only called it that in response to what verce was talking about. I had only heard 'golden cross' referred to with the 50/200ma cross. Then it occurred to me it may have meant the cross of the symmetrical triangle which I guess another chartist had drawn on the same lines as I had and called it a 'golden cross' I prefer the term cross roads personally but that was not the term verce had mentioned, it was merely a clarification for verce.

But Ann the question was would you buy it now?
are you confident in the way you interpret the chart to buy it now?

No, I wouldn't buy until it has cleared the resistance line at $1.16