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Outstanding Breakout Alerts!

Discussion in 'ASX Stock Chat' started by tech/a, Jan 16, 2005.

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

  1. Porper

    Porper Ralph Nelson Elliott

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    If you want exposure to gold...worth a look. Large basing pattern...just breaking out.AQG.PNG

    Disclosure I hold.
     
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  2. kid hustlr

    kid hustlr

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    OK I'll ask.

    What's the ticker?
     
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  3. Porper

    Porper Ralph Nelson Elliott

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    Good point!! AQG
     
  4. debtfree

    debtfree

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    Looks like AQG

    Ahhh same time :)
     
  5. peter2

    peter2

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    Another outstanding chart based BO alert on APT.

    apt3103.PNG
     
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  6. peter2

    peter2

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    Next trading day:

    apt0104.PNG
    I'm no April fool. Prior swings have been about $4 so I'm targeting $25. It will be a bumpy ride.
     
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  7. peter2

    peter2

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    Reviewed today's 5 min chart for APT and I think this is going to break out again tomorrow. There's a clear line of resistance at 22.60 and there's been a series of higher lows throughout the day. The first three price pullbacks were done on declining volume. This indicates that the selling was only a few profit takers selling, no insto selling. Another chart with outstanding break-out potential.

    apt0104b.PNG

    I'm not "pumping" this stock. I'm only showing charts that fit the thread title. Yes, I've a few in my medium term portfolios and I've been enjoying the ride so far. The hype in this stock and others like it will probably produce a nasty jolt at the end of the trend. I'm keeping a close eye on it.
     
  8. tech/a

    tech/a No Ordinary Duck

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    Nice chart
    Nice analysis.
    Nice use of lower timeframes
     
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  9. peter2

    peter2

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    Thanks @tech/a . I've a little time so I've posted a "prequel" to yesterday's APT post.

    Yes it's easy to mark these charts with hindsight, but I did post what I thought was an outstanding break-out opportunity before it did BO. You might be interested in what I liked.

    Daily chart: I was certain that APT would break out two weeks ago (red circle). I was wrong then. Supply was strong enough to keep it under 21.00 for nine consecutive days. That's awesome (to a chartist). Then the down day with slightly larger volume. I thought it was going down and raised my exit stop to 19.00. BUT wait, the selling stopped creating the daily doji bar.

    Some of you chartists may also note that this swing was either a 5th or 7th depending on where you start. there's a bullish BO of an ascending triangle in there somewhere.

    apt0104c.PNG

    Intra-day charts (15m): The day of the doji is on the lower left. For three consecutive days there was a HL in the chart. Retail traders can't do this to a high priced stock. An insto(s) was buying. Today we were going to see a classic battle between supply and demand. I favoured the demand side and that's why I posted. After today's battle, demand clearly won. The volume was above average and price closed near it's high. Supply scattered (or was withdrawn). Tomorrow's another day and another battle. I favour another price increase as I posted previously.

    apy0104d.PNG
     
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  10. peter2

    peter2

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    Like tech/a I know the power of combining multiple time frame charts. It's a lot more work. It's difficult to narrow your universe to only a few volatile "stocks of the day". The rewards are very good.

    eg Look at the BO-AscTri marked by the blue line in the APT intra-day chart (previous post). The initial risk is 0.40 and the reward (so-far) is 2.60 (+6R).

    Now look at the same time Thurs (28/3) on a 3m chart. Isn't that another asc tri pattern with an initial risk of only 0.20 ?
    apt0104e.PNG
    Before I hyperbole myself into a frenzy. (too late?) We cannot trade these micro patterns without being prepared for them. We can't scan the market looking for them as they'll be gone before we can trade them. Rewards like what I've been describing are only available to those that are prepared.
     
  11. tech/a

    tech/a No Ordinary Duck

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    Peter

    One thing I've noticed when trading patterns on the DAX
    Is the best patterns range inside the bars forming the thrust
    before the reversal and consolidation pattern.

    Like those shown here.

    The patterns generally aren't Triangles as they don't
    for wide swings---more meandering consolidations within
    the control area of the thrust which can be one or more bars.
     
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  12. barney

    barney

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    Intraday high of $23.49 ……. Did you consider taking any off the table after such a sharp rise Pete, or is $24 your definite 1st port of call?

    Nice call and nice trade by the way;)
     
  13. barney

    barney

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    Any chance of a couple of examples tech? …. I am prepared to beg if necessary:D
     
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  14. tech/a

    tech/a No Ordinary Duck

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    They are all over this chart of Peters.

    The upthrust in a move is a bar or a few bars
    If price remains in the body of the range of the
    or these bars a continuation in the direction of
    the thrust generally ensues.
    Best I can do---a little busy!

    Don't know what happened to the color!

    Patterns.png
     
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  15. tech/a

    tech/a No Ordinary Duck

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    Went to script.

    Currently $23.51
     
  16. peter2

    peter2

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    APT: Target for the latest BO-HR achieved soon after today's open. I would expect some selling at the $25 level. Sentiment for this stock remains strongly bullish, so I anticipate another shallow consolidation before the next BO-NH. A PB in a strong trend should not go below the prior swing high (21.00). An update of their US roll-out will either support or deflate this bullish price swing. Beware of any news.

    apt0805a.PNG
     
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  17. HelloU

    HelloU

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    myr:
    part of me wonders if this is gunna turn into a fast cover race soon.
     
  18. barney

    barney

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    Ok … I'll stand up and be the "old guy" here 'HelloU' …… (I am pretty old after all !!)

    Please explain :p What does "myr" stand for:)

    I like Forex but I'm sure you aren't talking about the Malaysian Ringgit:eek::D
     
  19. peter2

    peter2

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    @HelloU has drawn our attention to an outstanding BO in MYR (Myer Holdings). This has been on quite a tear and the level of shorts that are running to cover is slowly diminishing. The April 1st list has MYR at #15 and 9.5% shorts (27 days to cover).

    This MYR chart gets interesting for another reason. If MYR reaches 0.70, @greggles will eat his hat. I suggest he order a nice hat made from hemp. He may enjoy it more than a rabbit fur acubra.
    myr0805b.PNG
     
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  20. HelloU

    HelloU

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    gooda place as any ..
    idx getting strngth (maybe) they do have a lot of in house sell-offs though.
    ivc closed higher today after retail offer closed last friday .... it was higher than i thought warranted ... but it has been higher than i thought was warranted anyhow ...not sure when those shares get allocated ($14)
    ogx is rooted
    sl1 if i was a holder i would seriously consider not being a holder. Is there any profit at 40%?
    bla shorts coming off but suspect they are just scared as well, and running for the exits.
    ing watching this only cos the shorts are so heavy.
    cdx next lot of freebies will be given away at 8c. there will be an attempt to get there and hold for 30 days to make that happen. but no idea when this will occur.

    gunna look close at the ring thing 2night. might have a few beers first just in case i get a shock.
     
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