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Re: Learning Technical Analysis Q&A

Thanks for moving that into the main thread. Tech expressed a little confusion at my definition...and if Tech's a little confused I'm sure there are others. So I'll attempt to put some charts up and hope it works. Attachment 1 [ATTACH]46547[/ATTACH]

So here's a fairly recent set-up. You'll note a descending plane of resistance and a horizontal support and resistance line, with an indicated hard pivot point after the initial break of the plane. Obviously I was looking for a break of the horizontal to create a higher high and new trend confirmation.

Attachment 2 is a just a close up so you can see the hard pivot point in more detail. You'll note that I have a reference line using the hard pivot. You'll also note that I have a momentum line with a 5% band. (The green trend line that moves through the price action is my target).

Attachment 3 has a bit more price action. Note where I have placed the resistance band (across two hard pivots). Also note the volume that is dropping slightly from the break of the horizontal, showing weakness and the inside and engulfing bar indicating uncertainty.

After a few more days you can see the break of the momentum line (and I've indicated the potential profit from the stop point). Note that the price action is still at some distance to the hard pivot line.

A couple more days of price action reveal a hard upward pivot (and a gap movement as well). I can now adjust my momentum line to this point. (and it has a greater importance). I also want to make sure that the resulting move from the hard pivot doesn't fall outside my 12 period bollinger. (That would mean that I would be placing a 5% trailing stop on the trade - in this case I don't).

Attachement 5 shows that the price action hit my target and then began to consoldiate. Note that there is no pivot at this point. Note the inside and engulfing bars and further consolidation. Note that we then get a soft upward pivot that corresponds to the adjusted reference line. I still have a higher high and higher low on the bar that touched my reference line, but the close is within the range of the pivot. I do not rank this pivot as highly, so I revert to my lower hard pivot line. I'm still in the trade, no sell trigger has occurred.

More coming

<blockquote data-quote="Sir Osisofliver" data-source="post: 692931" data-attributes="member: 20188">Re: Learning Technical Analysis Q&amp;AThanks for moving that into the main thread.&nbsp; Tech expressed a little confusion at my definition...and if Tech&#039;s a little confused I&#039;m sure there are others.&nbsp; So I&#039;ll attempt to put some charts up and hope it works. Attachment 1 [ATTACH]46547[/ATTACH]So here&#039;s a fairly recent set-up. You&#039;ll note a descending plane of resistance and a horizontal support and resistance line, with an indicated hard pivot point after the initial break of the plane. Obviously I was looking for a break of the horizontal to create a higher high and new trend confirmation.Attachment 2 is a just a close up so you can see the hard pivot point in more detail. You&#039;ll note that I have a reference line using the hard pivot. You&#039;ll also note that I have a momentum line with a 5% band. (The green trend line that moves through the price action is my target).Attachment 3 has a bit more price action. Note where I have placed the resistance band (across two hard pivots). Also note the volume that is dropping slightly from the break of the horizontal, showing weakness and the inside and engulfing bar indicating uncertainty.After a few more days you can see the break of the momentum line (and I&#039;ve indicated the potential profit from the stop point).&nbsp; Note that the price action is still at some distance to the hard pivot line.A couple more days of price action reveal a hard upward pivot (and a gap movement as well). I can now adjust my momentum line to this point. (and it has a greater importance). I also want to make sure that the resulting move from the hard pivot doesn&#039;t fall outside my 12 period bollinger. (That would mean that I would be placing a 5% trailing stop on the trade - in this case I don&#039;t).Attachement 5 shows that the price action hit my target and then began to consoldiate. Note that there is no pivot at this point. Note the inside and engulfing bars and further consolidation. Note that we then get a soft upward pivot that corresponds to the adjusted reference line. I still have a higher high and higher low on the bar that touched my reference line, but the close is within the range of the pivot. I do not rank this pivot as highly, so I revert to my lower hard pivot line.&nbsp; I&#039;m still in the trade, no sell trigger has occurred.More coming</blockquote>

[QUOTE="Sir Osisofliver, post: 692931, member: 20188"] [b]Re: Learning Technical Analysis Q&A[/b] Thanks for moving that into the main thread. Tech expressed a little confusion at my definition...and if Tech's a little confused I'm sure there are others. So I'll attempt to put some charts up and hope it works. Attachment 1 [ATTACH]46547.vB[/ATTACH] So here's a fairly recent set-up. You'll note a descending plane of resistance and a horizontal support and resistance line, with an indicated hard pivot point after the initial break of the plane. Obviously I was looking for a break of the horizontal to create a higher high and new trend confirmation. Attachment 2 is a just a close up so you can see the hard pivot point in more detail. You'll note that I have a reference line using the hard pivot. You'll also note that I have a momentum line with a 5% band. (The green trend line that moves through the price action is my target). Attachment 3 has a bit more price action. Note where I have placed the resistance band (across two hard pivots). Also note the volume that is dropping slightly from the break of the horizontal, showing weakness and the inside and engulfing bar indicating uncertainty. After a few more days you can see the break of the momentum line (and I've indicated the potential profit from the stop point). Note that the price action is still at some distance to the hard pivot line. A couple more days of price action reveal a hard upward pivot (and a gap movement as well). I can now adjust my momentum line to this point. (and it has a greater importance). I also want to make sure that the resulting move from the hard pivot doesn't fall outside my 12 period bollinger. (That would mean that I would be placing a 5% trailing stop on the trade - in this case I don't). Attachement 5 shows that the price action hit my target and then began to consoldiate. Note that there is no pivot at this point. Note the inside and engulfing bars and further consolidation. Note that we then get a [B]soft[/B] upward pivot that corresponds to the adjusted reference line. I still have a higher high and higher low on the bar that touched my reference line, but the [B]close[/B] is within the range of the pivot. I do not rank this pivot as highly, so I revert to my lower hard pivot line. I'm still in the trade, no sell trigger has occurred. More coming [/QUOTE]

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