CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
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- 519
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.
Harry Boxer had this stock (SOLR) as chart of the day end of last week
http://www.thetechtrader.com/info/charts/index.php?id=340
Like the HERO short.
Struth, did you see what it did? A quick $280 loss mate!
Thats the gap down and power up on the S&P.
CanOz
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