wot happened next revisited

[mb325]

I wasn't disagreeing with you just voicing what I was thinking. I'm about as far away from being the best price and volume reader as you can get, it's not obvious to me at all and this thread has been extremely beneficial so far, I just find writing this stuff down helps me to process thoughts!

 

[PKFFW]

Same here mb325. Learning alot from reading others thoughts and putting my own down in writing.

Cheers,
PKFFW

 

[Priceman]

Live trading

Barjon,

It's great that you're trying to revive the wot series and get people's interest going again. And some good responses too.

What may be even more interesting is choosing a stock/ index/ currency or whatever, and doing the wot live?.... then we can really sort out the men from the boys!! Someone picks for the coming month and everyone tracks it and puts their daily take on what could happen.

Obviously I'm just a young boy at this game and couldn't possibly enter my opinion, I'm just too sensitive a chap and would cry into my keyboard if I made a complete t!t of myself. Maybe others would think the same and there wouldn't be any interest, I don't know.

Just a thought anyway.

 

[options]

That's a good idea actually.

 

[Vrothdar]

I like that idea priceman. I think it'd work very well if done in the same kind of format as barjon is doing as it helps those of us (like myself) without access to data feeds etc.

I suppose EoD daily data could be used to work around that although I do quite like the fact that everybody is working with the same info here - just the candles and volume.

 

[options]

I like that idea priceman. I think it'd work very well if done in the same kind of format as barjon is doing as it helps those of us (like myself) without access to data feeds etc.

I suppose EoD daily data could be used to work around that although I do quite like the fact that everybody is working with the same info hear - just the candles and volume.

Nah, stuff that for us seasoned pro's. Just post up a blank screen. Hell. I'm gonna be right 50% of the time. (Per trade).

 

[Vrothdar]

Nah, stuff that for us seasoned pro's. Just post up a blank screen. Hell. I'm gonna be right 50% of the time. (Per trade).

What I was trying to get at is that if it were just said that instrument x is going to be the focus this week people would post their views based on whatever trading methods they use. I don't think people (particularly newbies) would learn a great deal from that. The beauty of this thread is that we are focused on a price action represented with candles and so (as a newbie) I'm learning a lot about how different people interpret that one aspect of trading.

 

[options]

Yeah I got that first time Vrothy baby, Just having a giggle.

Will have to wait till Barjohn comes back from the pub. 'Cause I have a sneaky feeling that he is not showing us a candle chart.

 

[barjon]

Hi guys - just back from the pub When I went for a drink ftse stood at 5318 and I see it closed at 5311 today - not a lot happened during my boozing then :whistling

Anyway here's CANDLE 10 for those who can tear themselves away from the market soap-opera.

jon

 

[Vrothdar]

Well I'd be long again with a new trade and a stoploss at the same level barjon metions in his notes - the low of candle 9.

 

[PKFFW]

Hi guys - just back from the pub When I went for a drink ftse stood at 5318 and I see it closed at 5311 today - not a lot happened during my boozing then :whistling

Anyway here's CANDLE 10 for those who can tear themselves away from the market soap-opera.

jon

1: Gap up opening with little in the way of retracement to close the gap.
2: Made new high but then fell back from said high. Closed higher than open and also nearly at previous high.
3: Increased volume.

I'd be inclined to think we are getting reading for a move higher. I'd be moving my stop to just under the previous candle.

Cheers,
PKFFW

 

[rags2riches]

Anyway here's CANDLE 10 for those who can tear themselves away from the market soap-opera.

jon

Barjon's comments seem spot on - I have nothing additional to add. Increase in volume and gap up open suggests buyers moving in and the beginning of a new leg up.

 

[barjon]

...and CANDLE 11

 

[rags2riches]

...and CANDLE 11

Slightly disappointing to see IB consolidation so soon. Wait to see if more buyers move in or a sell off begins.

 

[barjon]

..............and CANDLE 12:

 

[Vrothdar]

I'd be doing the same as barjon again. Stop moved to low of candle 10.

 

[rags2riches]

I'd be doing the same as barjon again. Stop moved to low of candle 10.

Ditto.

Good to see more upside movement. Great trade by the way Barjon in terms of risk/reward.

 

[PKFFW]

...and CANDLE 11

1: Closed higher but did not make new high. Overall looks like a nice steady candle to me though.
2: Increased volume but still down on what I'd call the average judging from these bars.

I'd be moving my stop up under the previous candle.

If I had to guess I'd say this candle indicates a testing of the waters so to speak. A gathering of the forces if you will. I'm expecting another move up shortly.

Cheers,
PKFFW

 

[PKFFW]

..............and CANDLE 12:

1: Gap up opening and a higher close is good.
2: Price did come some way off it's high showing sellers are there. Could price struggle to get higher?
3: Volume hasn't changed much and is still below what looks like the average. Could show this move isn't really supported but could also show there simply isn't alot of urgency from either side. Which will be more patient for the price they want?

I'm keeping my stop under candle 10. I'm still expecting price to go higher if I had to make a prediction.

Cheers,
PKFFW

 

[barjon]

off piste tomorrow so here's CANDLE 13 a bit early