Your latest trade based on T/A

[It's Snake Pliskin]

Snake, you may be right. Just thought it was worth the risk of a 1/2 position now, alot of the closes on the last rally have been quite weak and it has yet to break the shorter term downtrend, it may also depend on some of the data out of the USA this week but knowing my luck your long is probably very looking good lol.

Did you cash in your short this morning after the spike?

 

[nomore4s]

Did you cash in your short this morning after the spike?

No, have been busy with work this morning and missed the spike but will reaccess the position at the close today. Stop has already been moved to B/E.

 

[nomore4s]

No, have been busy with work this morning and missed the spike but will reaccess the position at the close today. Stop has already been moved to B/E.

Have covered my short just before close due to the strength shown this arvo. May even look to go long tomorrow now.

 

[GreatPig]

Here's another one I entered back at the end of September. Naturally bought at the high of the highest day at that time , but nearly back to even now. Hoping this will break out to the top side of the triangle, where the target could be $4.50 to $4.80.

Also interesting where the Fib levels lie. During the fall from the highs of April, there was some sideways consolidation right on the 50% level, and the current triangle is forming on the 61.8% level.

Cheers,
GP

 

[>Apocalypto<]

I have taken 2 mini shorts on the igxjo,

making this trade off the 4 hour chart,

main trend has finished, time has eaten up trend now moving in a sideways position.

the last thrust was a impulse made in a few bars the trust failed to reach old highs making the first lower high. Watching the support point could find resistance there.

many counter arguments to this trade, 1. its a bull market 2. this could be a normal reaction to the new sharp rise. plus others........

stop is @ 6786, see how it goes.

 

[BentRod]

BR and Lachlan,
Lets give it some time to work. Nice to know others are in on it

Gday SP.

I've moved my stop up($10.79) after todays price action as I'm pretty much a short term trader.

It will have to prove itself from now.

 

[It's Snake Pliskin]

Have covered my short just before close due to the strength shown this arvo. May even look to go long tomorrow now.

The pattern is quite strong now I believe, but strange things happen. I held that spike and waited it out but the speed of it was comforting. I broke my rules but I do that sometimes, must be the artist in me. Intuitive application.

 

[BentRod]

Regardless, it is good risk/reward Snake.

You know you are wrong(short term) on a breach of $6.78.

 

[It's Snake Pliskin]

Regardless, it is good risk/reward Snake.

You know you are wrong(short term) on a breach of $6.78.

Hi BentRod,
I would say further sub $7 and the trade is wrong. It needs to say up now.
Cheers...

 

[chops_a_must]

Decided to get in on the ticker "GOLD" earlier today, on the weekly r1.5, after a box play seems to have set up.

Looks to be going the right way at the moment. Stop set below the previous low of 81.5, at 81.

Target is above $97.50, but will look to exit if/ when it is above $96. Am also wary of volume spikes on this one...

Stop will most likely be moved to break even on the open for this one. We could see a gap up close to $87, and a large break of the box. It is an opportunity to scale in if I get stopped out on a few other trades today...

 

[It's Snake Pliskin]

Hi BentRod,
I would say further sub $7 and the trade is wrong. It needs to say up now.
Cheers...

Stopped out on the open.

 

[BentRod]

I'm out of TPI now too.

Good luck with it.

 

[Lachlan6]

(CTX) looks like it is embarking on a five wave decline in the larger Wave (C) of this flat corrective pattern. I am looking for its next support down at $21.35 and from there a weakish rally may occur before a final fall, possibly down to around the August lows. At those levels it most likely will produce a level whereby a long will be very tempting indeed and any reversal signs will be therefore jumped on.

 

[Lachlan6]

I have just shorted AMP at $10.40, as I believe from the chart there is downside potential. The move up from August to October cannot be considered impulsive in nature and hence must be corrective, and when placed in perspective with the decline from July to August, I have counted this as a larger A,B,C corrective pattern. I have sold into strength today (as I believe AMP is looking weak, probably only the overall market strength keeping it up today), and have placed my stop at above the 61.8% typical wave ii retracement level at $10.63. Looking for a wave iii to pan out soon. This is a medium term trade.

 

[Lachlan6]

Just went long ANZ at $30.25. I like the set up here as it has retraced today on its profit release to an important zone of potential support. This level coincides with the typical wave (4) 38.2% retracement level coupled with the wave equality for the expected wave c. My stop is at $29.78, because if this level is breached (the exact level is $29.84), the impulsive movement up is negated.

 

[Lachlan6]

Exited my trade in ANZ for a small loss and entered a new short medum term trade in LLC. I see further downside here as it seems to be in a zig zag corrective pattern. Notice the wave (A) had 5 waves down and the wave (B), a corrective 3 waves up. Now I am getting ready for the next 5 wave pattern down to conform with the Elliott rules in the wave (C). Arguably not a zig zag pattern as prices will not probably push below the August lows, however still a very good R/R trade with a stop at $20.16.

With the market looking a little toppy I was on the hunt for potential short plays. I entered today at $19.66. Furthermore, notice how the highs of the last two days were spot on the 61.8% typical retracement level ($19.8) of the minor wave ii within the wave (C).

 

[Nick Radge]

PBL popped up in our reviews last month because of the Head & Shoulders bottom coupled with the stopping volume in mid-August. That initial target has been met, but the recent coiling portends a wave-4 triangle and therefore a probable trend continuation and an attempt to the all-time highs.

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[Lachlan6]

Have purchased some AOE as a long trade at $2.64. Looking for the $3.20 target to be met which coincides with the pattern target (triangle) and the all time highs. I have counted this coiling in three waves only, as the impulsive wave 1 actually forms part of the triangle. My stop is at $2.36.

 

[chops_a_must]

Have purchased some AOE as a long trade at $2.64. Looking for the $3.20 target to be met which coincides with the pattern target (triangle) and the all time highs. I have counted this coiling in three waves only, as the impulsive wave 1 actually forms part of the triangle. My stop is at $2.36.

Trade thief. :

 

[Lachlan6]

Just went long IBA at $1.14. I like the set up here, as it looks like it is in the strongly cemented wave (3) position. The typical target from here would be $1.43, with a high probablity target from the triangle breakout at $1.32. The Risk Reward here is very good as my stop is placed at $1.06, just below the top of the wave (1). We know that the wave (4) cannot breach this level, so a good place to put a stop.