On the attached chart I've added Bollinger Bands, as suggested by 4re. One can observe a tight range between the lower/upper levels, that would point out that there should be a move pretty soon and BRD starting to come into play, I am going to get my target maybe even as early as this week.
Divergences
- Thread starter romik
- Start date
On the attached chart I've added Bollinger Bands, as suggested by 4re. One can observe a tight range between the lower/upper levels, that would point out that there should be a move pretty soon and BRD starting to come into play, I am going to get my target maybe even as early as this week.
Romik
You dont use BB's as a regular part of your TA?
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4re
What direction will the stock go once the bands expand?..how can you tell just by looking at the bands themselves?
You dont use BB's as a regular part of your TA?
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4re
What direction will the stock go once the bands expand?..how can you tell just by looking at the bands themselves?
I do pay attention to them on daily.
Did you mean to ask when BB range tightens, which way the price will head? In that case, IMO, BBs won't provide any sufficient indication on near-future direction. In this journal I try to establish direction by looking for a presence of a divergence.
Like a MACD crossover?
UPDATE on AT&T
Looking at daily chart another really great opportunity is currently presenting itself to short AT&T based on yet another BRD in both MACD and RSI. This stock's been a bit of a hold so far, but nevertheless the signs are still favouring the short side. So if any of you guys are short and thinking of abandoning ship, I would have continued holding the short as the daily is ripe for a decline in the price very soon. BBs are pretty tight (~$30-$31.5), recent silver tight BB range has been broken only yesterday, so I am quite excited about AT&T at last. Here is the chart.
Looking at daily chart another really great opportunity is currently presenting itself to short AT&T based on yet another BRD in both MACD and RSI. This stock's been a bit of a hold so far, but nevertheless the signs are still favouring the short side. So if any of you guys are short and thinking of abandoning ship, I would have continued holding the short as the daily is ripe for a decline in the price very soon. BBs are pretty tight (~$30-$31.5), recent silver tight BB range has been broken only yesterday, so I am quite excited about AT&T at last. Here is the chart.
*************TRIPLE BRD IN HIST NOW*******************
Spot silver down to $11 right now. It looks like the bids have been pulled massively, down over 9% from Friday close.
What was interesting that when BBs range was tight, price created a fake move upwards and now plummeted. From the looks of things $11 is not going to be the bottom of this move, so I will set PT1 @ $11 as previous estimate and PT2 will be around $10 or exit at entry.
Sweet.
N.B. I am really quite pissed as my SLVs (not paper) are taking heat, but I remain a strong believer that my kids will benefit, no matter what is happening with valuation today or tomorrow or the day after. BTW, I got a second one on the way
