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So far, so good, ... .14 now
FWIW, took a position in ECUI .019.. whata heck
This would have to gap down for the pattern to continue.
There was no extraordinary volume Friday and overhead resistance from here. IMO Too late for me to get in this.
CTKH chart
Hi Sue, let me take a look.
On the falling patterns, I look for stocks that are OBV positive (that doesn't mean that the daily OBV will be > the sma20 OBV) and that were trading > the 32 sma the previous week.
Part 2 cont:
Thank you for the comments, kds.
This is an example of what I seek in a conservative play. The lower it gets the stronger the support and it eventually forms an apex. When the trend lines are validated by 3 points of contact, it convinces me that they're true. BTW, no position on this issue. (chart)
I was just looking at this chart and because the two previous lows were close I don't believe it will fulfill what I was trying to illustrate this time, but we'll see how it turns out.
Ok, here's an updated chart for part 1
Lost all the annotations on the first chart (in part 1), I will try to duplicate later.
Part 2: Catching a falling knife
When drawing the descending resistance line, ALWAYS draw the line in the highest point CENTER of the candle (chart)
BTOO chart
BTOO chart
Today, I'm watching things and will only make trades that I feel very comfortable with. 1. I haven't traded in a week. Returning cautiously because I'm allergic to losses. 2. It's Friday
WRPT breaks valid trend line, but there is a gap at the open... will it fill?
TRPL's current high today will form a valid top descending resistance line... it must not exceed .056 today to prove true (chart)
If the high today doesn't exceed .20 we will have the 2nd point on the descending resistance line... top trend line.
Morning! Some that are developing. I'm going to watch some today...
lol! that was very cute :)
A chart example that I played a few weeks ago
Part 2 tomorrow :)
The safest way to catch a falling knife that I use ...part 1 (chart) Any violation of the pattern is possible until the trend lines are confirmed. At this point let the pattern develope.
Lookin' for one :)
Hi guys! Get to trade tomorrow....... finally. Gotta lot of charts to look at tonight.
If they stick to their style I think it will be a good thing. For one it's good that their hard work is recognized. It takes time and dedication to be successful and both Missy and Merci have proved their worth and abilities. They have a very good forte and back ground caste of friends that appreciate the honest exchange of ideas towards different charts. That makes this an A-1++ board IMO. When they send me their opinion on something I know it's an honest opinion and worth considering. Cheers! To their continued success :)
This weekend I'll try to add a few links to make the board seem real savvy :) ... nothing real fancy, but some things that I've found useful and informative to me.
Thanks merci. It's just my own little corner that I can post some conservative technical plays. I've been extremely busy at work this week and I'm gone most of the day. I'll be trading for another stretch very soon. Hope your trades are going well!
Yep, when I feel better I'll send you some details. I'm hittin' the hay. I just worked 12 hours of Monday madness. Hopefully, I'll feel better tomorrow. Hope your trading is going well.
I managed to run a few scans and saw a few prospects, but I'm too pooped to post. I'll try tomorrow. Going to bed. G'night
yes... and man I'm tired. It was a very long day.
Hi Buqqq and thanks. I usually place my sell orders immediately after taking a position near next resistance when unable to be there. Here's an example of the type of play I might make that has treated me well. When OCRI was falling I placed an order near descending support at .065 and sold 2 days later at .085. Here's the chart.
Thanks ~ Susan ~ !
He's in jail too... I wonder what happened?
Through most of this coming week I will be unavailable during regular trading hours. I can still place a few trades via my broker, check charts and the board briefly during the day while I'm away. I will post some charts after hours and return to trading during the day for a nice stretch afterwards. It was due to having other obligations that I have depended on charts to make timely entries in anticipation of the chart direction. (When certain criteria was met). Have a great week and I hope you make lots of $$$.
BPUR chart
PAYD watching the pattern develope (chart)