a plethora of entries

[barjon]

ok you swinging lords and ladies of T2W - how aggressive are
you?

Barclays appears to have changed its intermediate trend to down
after it failed to make a new high, at A, then breached an earlier
swing low. Since then it has made a swing high, at B, (not yet
confirmed), but the more aggressive may already be short.

There are several entry options:

The bar that failed to make a new high, at A, was a reversal day
(an engulfing candlestick if you use those) on good volume. Your
first option , 1, would have been to have entered immediately
following this failure. Your second option, 2, would have been to
wait for an intraday move below the low of of the reversal day
bar. Your third, 3, to wait for a close below the low of the reversal
day bar. Your fourth, 4, to wait for a move (intraday or close)
below the previous swing low. You fifth, 5, to wait for an intraday
move below the swing high bar (B) low.

Or will you be waiting for 6, a close below the swing high bar low.
Or 7, a close below fib50support. Or 8, a close below
fib62support.

You may like to vote in the poll and/or comment on your choice
or post an alternative entry point you'd use.

Hope you're all enjoying the festivities.

good trading for 2004

jon

 

[BBB]

I'd have a buy stop above 495/the red resistance line, and I'd have a sell stop below bar 5/485, BUT ONLY if this chart was at some time other than the Crimbo holiday when the markets will be too thin and ripe for insiders to go stop running for their Christmas bonus!

If my sell order was filled, I'd be looking to take some profit off the table before the support at 4, and draw any remaining positions stop to break even. I may add to the position if price fell through the support.

If my bid stop was filled, Id be looking to take some profit off at A maybe.

I would disregard the Fib numbers as markets move according to order flow, not magic numbers that the rest of us fade!