Catching Tails

BWS launched out of the bull flag. I didn't touch it because the momentum divergence wasn't there. The Money Flow indicator on the hourly chart tends to lead an advance by about a day, but it kept falling in this case, probably due to the light volume.

But it was not fun watching it march up 3% without me.

This may just be particular to C waves. I'm sure it will become obvious after several more years of practice.

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BWS launched again....... 7% total move from the breakout of the bull flag. Oh well. Mark that one as a called strike.

:eek:

RPRX is selling off, either setting up for a strong base from which to ascend, or descend......

Here's FAZ again. I keep an eye on it, in case the general market trend turns. It is showing strong momentum trends on the 15 minute and hourly charts, but not yet on the daily. This is typical of the low before wave 1 begins. There might be some opportunity to catch the wave iii inside wave 1, using the hourly chart, but the big move will probably not happen until the daily chart shows the same setup.

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NFLX tracing out a bull flag. I stalked this badboy all day and hoped it would do this. Flags and triangles are excellent foundations to base a low risk entry from. I just can't believe it blew by me on Thursday! I need to pay more attention......

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Ideally I would like to see NFLX put in a higher low before committing to it, but here is the same chart setup from Jan. 6 of this year, when it put in practically the same setup:

Double bottom with divergence, higher low, explosion thru the 50 sma, hesitate one day (triangle instead of flag in this case), then climb 25% over the next 2.5 days.

The big wild card is the general market. It had finished breaking out of its own triangle back in Jan. of this year and was taking to the sky. I don't see the same setup now on the SPY.

This is the type of obsessive planning and study that has always made money for me when trading. It's when the BURNING DESIRE went out that I started looking for an easier way ("buy signals"), that I met with undesirable resultz.

So with great anticipation and settled funds, I wait for Monday!

:D

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Quote from ammo:

two ways of looking at it
More...

This is great. I wish I knew how to interpret it.

What do the bulbous volume/price levels represent? Value levels? What are they?
 
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