WOT happened next?

[mr.marcus]

Well I guess that makes me a numpty as I prefer to gauge the distance to travel and the amount in my tank at each stage of the journey. Not to say I am ever left on the side of the road, jerry can in hand and thumb out!

It is enough to see the horizon, but not past it till you get there, just be ready.

...i was thinking more japanese tourist with dodgy asian taxi driver...marble arch via the hebrides......kiddin

...look forward to "wot" 2010....good trading to you chris.

 

[Atilla]

What I find the most interesting and fascinating about these threads is not, who gets it right and how much so, but how people come to their conclusions.

It really sheds light on different approaches and I think helps teach newbies so much more than a pile of books, or some of the badly phrased questions that appear, as it shows them what an array of different traders see and how they try to see what will be.

I am in the camp of wait and see. I don't know volume so it doesn't help me so I have to see action at said levels and thus, despite knowing the answer, would still have produced 2 scenarios and would like to see the action at each key area.

So here is my answer regardless... the actual result I will post tonight. I urge experienced and newbies to post without fear, their interpretation, as its not about being right or wrong, but learning.

Increasingly I try and not to think but follow pure TA price action.

1. The opening gap is significant imo.
2. Price continues higher but comes back down and tests support what to me looks like approx 23-38% retrace.
3. Most recent price action is more important than old price.
4. Moreover price action is supported by high volume. Falling price by comparison has less volume action. This confirms point 2 above with a retrace to test support.
5. There is a symmetrical triangle forming. Text book theory says break out 75% likely to continue in direction of main trend. Who am I to argue otherwise.

6. Either way if a break out occurs to either side of symmetrical triangle beyond S&R lines I'd go in that direction.

 

[wasp]

2 hours to go people....... get your entries in!

 

[rainman2]

....hmmmm...is this really a good idea...did this last night with one of my students ...

How's DB coming along ? :cheesy:

 

[mr.marcus]

How's DB coming along ? :cheesy:

....had to let him go...couldnt grasp the basics...i told him all you need are trendlines...higher highs and higher lows and of course a virtual account you can reset...but he didnt believe me.

 

[firewalker99]

something to argue about... trading related

What happened next......?

If it weren't so blatantly easy to find this stock...
Too many easy patterns on the chart: the gap, the volume peaks, the fact that it's a daily chart... even Prorealtime is labeled... ProSeeker does the rest... but I won't spoil the fun for the rest of you...

Instead of talking about what happenED, it might be more interesting to tell what's going to happen. I'd love to see an analysis for the next 3 months for any major index out there.

Go ahead, please me!

 

[mr.marcus]

If it weren't so blatantly easy to find this stock...
Too many easy patterns on the chart: the gap, the volume peaks, the fact that it's a daily chart... even Prorealtime is labeled... ProSeeker does the rest... but I won't spoil the fun for the rest of you...

Instead of talking about what happenED, it might be more interesting to tell what's going to happen. I'd love to see an analysis for the next 3 months for any major index out there.

Go ahead, please me!

....as me old mate albert says....."everything can be foretold"...

 

[TheBramble]

....had to let him go...couldnt grasp the basics...i told him all you need are trendlines...higher highs and higher lows and of course a virtual account you can reset...but he didnt believe me.

Has he gone back to Phoenix or is he still in the UK?

 

[wasp]

Not looking like Barjon is going to appear, must be at the 19th still.... Chart coming up...

 

[wasp]

here it is.......

I am going to let Barjon continue the series as it is his baby and he has access to choose a better array of stocks than I.

Good to see everyones views, cheers.

 

[TheBramble]

I'd like to crow just a little bit. The low I highlighted as a potential short entry was eventually taken out in the one definitive down move that occurred in the shortest timespan and stopped, with a a little bounce, roundabout halfway bwteen the top and bottom of the gap which is where I said I would take my leave.

Who's your daddy????

Good call from Mr.M which was a close match to the reality, perhaps a little too bullish as events unfolded, but a good shot and far further into the future than I would even consider calling. Bit poor that he didn't do the volume too though....LOL

Just kidding mate. I stand in awe of your broad brushstrokes. You just need an anal retent like me to micro-manage the potentially useful entry/exits within your wider contexts to actually trade the buggers...

 

[wasp]

now, what was that joke about trendlines, supply and demand, LrH and LrL and taking the journey without knowing the future....?

seems to work!! :cheesy:

 

[TheBramble]

wasp - my monitor's on the blink at the moment - can't resolve high level graphics. Are those Gann fans on your chart....?

 

[wasp]

Just trendlines and Support and resistance Bramble

 

[mr.marcus]

now, what was that joke about trendlines, supply and demand, LrH and LrL and taking the journey without knowing the future....?

seems to work!! :cheesy:

....to be honest....im starting to think this could be the way to go...i love the simplicity of the approach....certainly would cut down on my analysis time....cheers and happy trading to you.

 

[wasp]

For any newbie watching the thread, it at least helps them see the action rather than plying on the indicators... A good place to start... then they can learn to read between the lines...

 

[jacinto]

....had to let him go...couldnt grasp the basics...i told him all you need are trendlines...higher highs and higher lows and of course a virtual account you can reset...but he didnt believe me.

I believed you


My respects to you.....then again, I woulnt have expected anything else from you!

on the personal side,
baby was in hospital, bit of a scare, but now back on track, so happy. building works a nightmare. want to hang a couple of builders from their shoulders and chop their heads off :cheesy:


its been a long time. I owe you an apology for shutting the door on my own, but simply had to go to that mountain. the view is nice....at times.......the problem is that the bloody mountain has a mirror and, well......that is the tough part of the view.

Anyway, I think the people that have read you in this thread should be thankful for the knowledge you have shared...be it in a chart, or more specifically on the words that have described how engines, travel plans, etc....work! for me it has been an absolute pleasure to read.

my regards to you dear teacher, and all my respects

g

 

[hwsteele]

Cat Ears rule!

 

[hwsteele]

Credit goes to trendie for opening my eyes to Cat Ears.

 

[rainman2]

....to be honest....im starting to think this could be the way to go...i love the simplicity of the approach....certainly would cut down on my analysis time....cheers and happy trading to you.

Of course its the way to go. Why would anyone want to take the time to actually understand "WHY"?...now let me see, black s/r for the 240m, orange for the 60m...