Is this stock coming back down?

IMO if you had studied enough, you would now have a better idea as to if you are reading the chart correctly.
Are you referring to the spike at around 13:30? If so, that type of increase often comes near or at the end of a move, as it did there. Or do you mean the volume on the last bar? If so, the price movement is not in line with such an increase. I don't know how cross trades are handled in Korea, but if it's done as it is in Japan, that could be what it is.
Pls repost the chart showing how you think a triangle is forming, b/c I just don't see it.
 
the reason for why i think the symmetrical triangle is forming is because all the way at the the end theres an upward trend. i simply just draw a line on the higher lows and a down line on the lowers highs. sorry the top line should be down ward.
 
cashclay said:
oh crap that sucks. so how would i know if this is going to keep going up? through volume and continually highs?
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You need to find setups that have positive expectancy. What does this mean ?

It means that after you have OBJECTIVELY defined a setup, you study hundreds, preferably thousands of reocurrances and you extract their statistics. Which statistics?

Things like ACCURACY, what is it's ratio of SUCCESS/FAILURE ratio, RISK, where does the STOP need to go for the setup to have failed, REWARD, how far does the setup run when it works. FREQUENCY, how often can you find the setup?

Once you have computed all these stats into the expectancy formula, you need to factor in, commission, slippage and human/computers errors, if after this you still have positive expectancy and the frequency is acceptable you have found an edge.

With such edge you risk money, without one, you dont' move a finger, you don't trade on fear, or greed or even feeling, you trade OBJECTIVELY.

Remember, every edge will have failures, nothing is 100%, the holy grail does not exit, therefore, you need to apply PROPER MONEY MANAGEMENT so you can withstand losing streaks.

Beware of buying edges from snake oil salesman, if it's for sale the edge sucks or used to work and now sucks. This also applies to gurus sharing so called edges for free, no one in their right mind would share a solid edge out in the open, barely profitable yes, the one everyone searches for, no.

Now go to work (hard) or simply quit (not a bad decision actually) and look elsewhere.

Good luck wherever destiny leads you to.
 
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Overall this is in an uptrend and not a parabolic one, so the sell signals will probably be short lived until the bigger trend is over. As of now there is only a previous sell signal to be short off of, or a longer term buy signal to still be long from. Here's the question though... whats the catalyst to drive this up down?
 

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thank you nesyo and everyone else. you guys been relly helpful. Alot more than what i can say for others lol. Its really encouraging to the llittle guys like me that pros like yourselves are taking the time out to help. But nesyo there wasnt any news or anything like that. so i really dont know whats driving this thing up. Nesyo, can you see the symmetrical triangle forming at the end of this stock, or am i seeing something else.
 
cashclay said:
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[/IMG] just need some of your professional thoughts. i really dont know if this is coming back down or not. it kinda of seems to be consolidating but i really cant tell. What do you guys think? This is a korean stock. I kinda of think its going to consolidate to the left. but how can i tell?
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I see trend being down, so any kind of retracement be a sell for me, if stock is optionable buy call debit spread where your stop loss be so your loss be manageable, if stock goes down, at some point lift long call and keep short calls and try to make up losses on long call.
 

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