LOL...yea, Penny, I dont think your charts are colorful enough
Critique my trade please!
- Thread starter pkny
- Start date
LOL...yea, Penny, I dont think your charts are colorful enough
Out of the thousands of stocks to choose from..why this one?.. Maybe it's just me, but if I cant find a setup on a chart within seconds, I pass up on it.
Were you unsure about this trade to begin with?
cm
I came across it when I was scanning some charts. My reasoning was the gap down and BOP bars pointed to heavy selling, and the price was below the MAs...the day I noticed it, the close was lower than the last several days, which I saw as a consolidation.
I'm just wondering why it was a very bad play, was it mostly support nearby?
What was the biggest reason not to take it?
I would say to some extent I did feel unsure, but that's going to happen to me a lot at this stage. I'm also trying to train myself not to be too nervous to put on a position.
thanks for any advice....
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Pkny;
Looks like a good short in most respects, below 200ma, 50dma;
looks like its going down again now .
They are bottom fishing /covering @31.31 area,[see recent bottom tail on 4-23-07candle] & 30.30 area, 1 year charts.
Its still much weaker than DIA, SPY, thats what you want;
watch 50dma, & 36.36 area, with exception of typical strong 4th quarter, this stock has been mostly staying below 50 dma , all year.
a lot of support level from 07/06-10/06...i wouldn't have taken a short trade due to that. i would have been waitng for an RSI oversold looking to get long to due the support levels. trading is not a science but an art form.....you need a gut feeling beyond all the indicators....
True, probable heads to $37s based on weekly.
Quick bounce off 61.8% fibonacci retracement:
This is the same chart I posted Friday except updated price:
On daily chart, it is closed right at 50 day WMA, indicators have not topped:
On weekly chart just started to turn upside:
Quick bounce off 61.8% fibonacci retracement:
This is the same chart I posted Friday except updated price:
On daily chart, it is closed right at 50 day WMA, indicators have not topped:
On weekly chart just started to turn upside:
These charts and the trading system have been used by hundreds of smart traders, in most cases, we cannot teach old ET dogs new tricks.
For someone is willing to learn, for explanations on how to read them:
On how it works:
http://www.dacharts.org/archives/2X_Bline_HA/Trend_Setups/B_MOF_Sling_20060613.htm
http://www.dacharts.org/archives/2Xbline/
For someone is willing to learn, for explanations on how to read them:
On how it works:
http://www.dacharts.org/archives/2X_Bline_HA/Trend_Setups/B_MOF_Sling_20060613.htm
http://www.dacharts.org/archives/2Xbline/
Quote from cashmoney69:
LOL...yea, Penny, I dont think your charts are colorful enough