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- 12 April 2012
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Still strapped for time.
I hope these 3 charts are helpful.
Would like to spend more time on commentary but have to fly.
If you read in CONJUNCTION with Joules chart it should be a little clearer
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it's the money management that's separates the really profitable ones over time.
Can you tell the night before.
In some setups yes you can --- generally continuation moves
But in THIS case no only anticipate.
So Steve, what do you think? Can you tell for certain if an issue will move, the night before on an EOD chart?
CanOz
To be honest CanOz I don't have an adequete level of knowledge in relation to technical analysis to properly answer your question, as I said I have literally just begun learning T/A but to answer, no IMO you can never tell for "certain." I have to say at times after reading other threads it's easy to point out a breakout after it has happened but I haven't seen to many examples before it does which is what will make Barneys exercise above very interesting.
Cheers
Steve
Barney
From what I see I'd say the last chart remains range bound.
Yup, I agree. The analysis trains your eye and gives you the confidence to trade the setups as they appear at the hard right edge. Well said Barney, by the way!
You don't need to be certain to be profitable though...You will have many losing trades.
CanOz
some interesting ideas in here.....the thread has morfed from answering the question explaining a simple rise in price to how to frame trend and consolidation etc......
live prices, a kinda what-happened is a good idea to continue as i'm sure there are many mouthless eyes viewing
while we keep an eye on the OP GRY price, to the point: who has the next chart?
Price continues up ........ starting to get smellier by the minute
Lets take out the conspiracy theories and look at price.
For it to rise we need to see an exhaustion of supply.
The very high volume large range day got rid of a lot of supply.
Price gapped down and has continued to rise from the low of the impulse bar.
The question is
Has supply exhausted---as it gets closer to the High we will see whats left.
So its pretty simple to trade.
Buy at the low end of the impulse bar and wait for the train
OR
Buy on a lower than impulse buy bar clearence of the high of that bar
Particularly if it gaps through the high.
Stop at the low of the bar for a wait and see
OR At the bottom of the gap for a break out.
If massive volume then look for retracements as supply will still be dominant.
Have no idea which stock it is keep us up to date.
some interesting ideas in here..... i'm sure there are many mouthless eyes viewing
Tech ... The stock is a Spec (THR)...... I'm more than happy for you to disect the price action and agree with what you say, but don't discount the possibility of a little conspiracy
Knowledge is powerful, and when knowledge involves money, it becomes corruptible, on all levels. If you can explain the spike on my first chart with price action alone, I'll be very surprised (It looked more like a Short than a Long)
All that aside, my main reason for posting was to give Steve an example of News (or lack of news), giving an alternative outcome to a given scenario.
Cheers,
Last chart as of todays close ....
More news ...... Assay results now appear quite good
Traders push it higher on open, milk it, and leave the late buyers holding the Baby ...... closing on the Lows. (Thats the Conspiracy version...)
The stock may well continue higher after the dust settles, but my main point is ..... who knew to Pump the stock up 50% two days before a News release ...... and a news release which was apparently "not price sensitive" according to Management?? ............... Make of it what you will, but it is interesting.
But your missing completely whats going on here.
While Supply is filling any buyers that step up to the plate price is rising and has risen out of immediate consolidation.
This supply will either be defeated as in bought out.
OR it will continue to enter at higher prices
OR it will stop being placed in the market.
It is NOW that the astute trader will be analysing the right side of the chart.
If this supply dries up then there will be another strong move up.
But your missing completely whats going on here.
While Supply is filling any buyers that step up to the plate price is rising and has risen out of immediate consolidation.
This supply will either be defeated as in bought out.
OR it will continue to enter at higher prices
OR it will stop being placed in the market.
It is NOW that the astute trader will be analysing the right side of the chart.
If this supply dries up then there will be another strong move up.
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