Australian (ASX) Stock Market Forum

US Stocks - Short Trade Patterns

Heres the chart, it closed at 6.01, the low.

Cheers,



CanOz
 

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That wedge on the second last chart there, would prob have been a better shorting position to do it after the doji candle hitting the resistance. Assuming that stock is in a downtrend (a classic Bedford set-up from what I am aware).

Last chart, what did I say on that chart? Think I stated I didn't like the pattern, would prefer a rolling top or a legit wedge, not a trend channel? Stop also has to be a comfortable level above a false break area, otherwise a false break will get you out. That, or wait for the false break and then go short!

Looks like L Bedford would have had a good entry then on that stock! :)

As for second paragraph, how did you do what I said? I didn't like the pattern for a short, the trendlines should have shown a trend channel, not a wedge IMO, as I pointed out earlier. I said shorting a previous resistance (as per the last chart) or shorting a false break through the the resistance, would be more useful, only if the trend is down however.
 
Looks like L Bedford would have had a good entry then on that stock! :)

As for second paragraph, how did you do what I said? I didn't like the pattern for a short, the trendlines should have shown a trend channel, not a wedge IMO, as I pointed out earlier. I said shorting a previous resistance (as per the last chart) or shorting a false break through the the resistance, would be more useful, only if the trend is down however.

Sorry Mr.C, i'm not sure i follow you "how did you do what i said":confused:

I had already entered the orders for the trade. I see your point now, but i trade with my eyes, however poor they may be at times.

Cheers,


CanOz
 
Looking for a channel break here....maybe some looking for a bounce too;).

Take a view on CLC.

CanOz
 

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Going to sell this failure on HERO, probably gap down over it tonight.

CanOz
 

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Struth, did you see what it did? A quick $280 loss mate!

Thats the gap down and power up on the S&P.

CanOz

Nope, didn't see what it did, just from the chart, hitting the resistance overhead and on high volume followed by the down candle, looks like a good short to me.

Of course, nothing is guaranteed.
 
Hero might be forming a triangle, volume is falling could be a nice long play in the future
 

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