CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
- Reactions
- 519
Love those volume bubbles Snake...do you use Amibroker to find them?
Cheers,
Here is one of my latest trades which I entered today at $11.38. the chart is as of yesterday's close.
One importatn factor is the director's buying level in the background. Over $40 million worth. For the link see my blog.
Love those volume bubbles Snake...do you use Amibroker to find them?
Cheers,
Hi,
No I just eyeball the charts and look into them a bit. In this case there is some available info on the director buying big.
Actually I am still trading the hard way by manually going through charts one at a time and looking at them.
Snake
One day when i have some time i want to write an exploration to look for volume bubbles...particularly useful during corrective phases.
Cheers,
As such I am gonna have another crack at this trade in the next few days or even early next week. If nothing happens by end of next week, then this is a dud trade and the bulls will probably end up having good Christams.
Cheers
Looks like that is going to turn out to be a pretty good trade there.
A tonne of short set ups as well out of squeezes by the looks.
Have not gone short again on XJO, might wait till Tuesday afternoon as I think it maybe quiet on Monday. I am short the DJIA however and did so Wednesday night.
If this is significant, I was expecting it on Monday/Tuesday not yesterday with a target of 6723. So I am gonna have to do some more work in future to try and improve the timing a little. In contrast the last 2 pivots (16th July and 17th July) where bang on time.
It's actually quite strange, but last nights reversal came after a number of pundits were getting really excited about the futures being up so much, saying that there will be no stopping this market and we will make 7000 easily in the next few days, and have been reversing their comments this morning.
When you start reading stuff like that, the alarm bells start ringing immediately.
have taken a new long position in NWS today at $26.71. Almost idendital setup as BNB. NWS has completed a 5 wave decline from Feb 2007 High of $32.40. Has traced out what appears to be a green wave A up and is now completing a wave B contracting triangle. If this works out the C wave that follows should push prices to a target of $28.50 no later than 18/10/07, but it could be as early as 5/10/07. A break below $26.26( green Wave B triangle blue wave c low) will invalidate this setup. (Only $0.45 risk).
Have an important trend change time window starting today through to end of next week for the market, so will be looking to go short the market late next week
Cheers
Closed this long trade taken out on NWS back on the 28th Of September with the only a very marginal of gains, options nearing expiry in a few weeks and don't want to hold over weekend. Prices did not move as far or fast as I had anticipated, and there is an cycle date early next week for a high, but don't want to risk it.
Cheers
Guys,
If your using AB it couldn't get any easier.
Look for a plugin called "powerscan", very easy to use,volume and all sorts of other scans are very simple.
If the U.S takes a dive tonight I'll be looking at shorting the XJO... by my count the 1or A..2 or B count is out the window now, so am going with this possibly being an intermediate W1 which is near due for a W2 correction... also Miners time routines ( which I don't really put much weight on) are both indicating that based on various past swings a change of trend is just past due... not to mention my Budgies latest warning..
Cheers
.........Kauri
@snake... I'm also long TPI (from $10.46) after that first rise in volume.
Not really happy with the trade so far as it's not getting on with it .... I'm @ breakeven.
We have that gap @ $12.30, thats my first target, will we get there??
Have gone short today on JHX after getting stopped out of a long trade on Friday just above break even.
Position taken @ $7.26 just below Fridays low with a GSL at Fridays just above high of $7.54. Have only taken a 1/2 position atm with other 1/2 to be taken if sp breaks through support @ $7.00. Looking for around $6.45 if $7 is broken. Will have a very tight trailing stop until $7 is broken with conviction, due to support at $7 and current bullmarket.
Have taken the position due to JHX being unable to break through the downward trend channel and with Fridays price action on high volume showing some weakness, it also failed to rally past the 1/2 way point of the last reaction. A lot will depend on support at $7.00 though imo, as it looks to be quite strong.
At work so chart is a bit makeshift, sorry
Love those volume bubbles Snake...do you use Amibroker to find them?
Cheers,
Nomore,
I am surprised a short is worth taking. I am still long - watched my profit evaporate but I am not mivng stops until wiggle room is comfortable.
Good luck with it.I may need the same
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