wasps WOT part 2

This is a discussion on wasps WOT part 2 within the General Trading Chat forums, part of the Reception category; I had someone send me this chart, all ready as is, so this is my view... I do not know ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Feb 25, 2009, 9:48am   #16
 
wasp's Avatar
Joined Aug 2003
wasp started this thread I had someone send me this chart, all ready as is, so this is my view... I do not know where it goes...

FYI: I will post the 2nd part of the chart on Friday afternoon.
Attached Thumbnails
wot2.gif  

Last edited by wasp; Feb 25, 2009 at 10:24am. Reason: chart update
wasp is offline   Reply With Quote
Old Feb 25, 2009, 9:51am   #17
Joined Feb 2007
See how I do this time...
Attached Thumbnails
wot2-annotated.gif  
__________________
"Knowing others is intelligence; knowing yourself is true wisdom. Mastering others is strength; mastering yourself is true power."
- Lao Tzu

"A woman is a lot like a refrigerator. 6 feet tall, 300 pounds ... it makes ice."
"Facts are meaningless. You could use facts to prove anything that's even remotely true!"
"How is education supposed to make me feel smarter? Besides, every time I learn something new, it pushes some old stuff out of my brain."
- Homer Simpson
rags2riches is offline   Reply With Quote
Thanks! The following members like this post: wasp , Joey25
Old Feb 25, 2009, 12:34pm   #18
 
mr.marcus's Avatar
Joined Aug 2003
Quote:
Originally Posted by firewalker99 View Post
Since everything can be foretold, here's one thing I predict:

There won't be an equally accurate forecast for this chart, as was the case for the first WOT thread by wasp.

.....dont be shy mate....just ask if i do a "calls" service......in the meantime may your trendlines bring you all the prosperity and happiness you wish for....with love as always ...mark j.
__________________
...may sai david copperfield bless you....and grant you many pips on cable.
mr.marcus is offline   Reply With Quote
Thanks! The following members like this post: wasp
Old Feb 25, 2009, 12:44pm   #19
 
wasp's Avatar
Joined Aug 2003
wasp started this thread Now, now children, lets not spoil it for those enjoying and learning a thing or two...

Education for the newbies, however it is done, as it certainly beats indicators (or call services!) so post your thoughts and teach or learn...
wasp is offline   Reply With Quote
Thanks! The following members like this post: mr.marcus
Old Feb 25, 2009, 2:45pm   #20
 
barjon's Avatar
Joined May 2003
ok, it's nice to be on the other side of the wot table thanks to young waspy, so I'll give this one a go.

It's totally beyond me to predict where it's going, but I'm going to prepare to go long since I'm making the assumption that the action over the last few weeks (red-lined) is a process of accumulation by the big-guns preparatory to taking the price back up when overall market conditions are favourable. Should it break south I won't be taking a short since my assumption would require it to be seen as a shake out to pick up the last chunk of stock from nervous holders. If it kept on going south, then so what - I'll just be noting that my assumption was not valid.

So why my assumption:

1. The fall in price seems to be sufficient for it to be worthwhile to take the price back to the upper range.

2. As the big-guns build their positions by buying what becomes available, then selling some to keep the price within their buying range and so on I would expect volume to be relatively low, down bars generally closing well off their lows and decent rises counter-acted pretty rapidly. All featured here to my eye.

So that's it - but then I thought Skill's 747 would remain motionless on the runway, too

good trading

jon
Attached Thumbnails
wot2.jpg  
barjon is offline   Reply With Quote
Old Feb 25, 2009, 6:33pm   #21
 
fibonelli's Avatar
Joined Oct 2006
Wasp,

That chart looks very familiar.

If I'm right, you've posted up to 19 Feb 2009.

Down to the main multiple touch support zone as drawn by Barjon then it rose on for one day and then down!!!
__________________
Audere est Facere

"The trend is your friend and divergences are your best friend until the bend at the end"

Party on like it's 1930, until Mr C (Wave) gatecrashes the party.
fibonelli is offline   Reply With Quote
Old Feb 25, 2009, 7:57pm   #22
 
superfly's Avatar
Joined May 2005
"That chart looks very familiar."

not to me.
as you might notice keylines are very important to my style.
not drawn all the keylines that might be important, but you can get a gist.
In real time though Im more a one legg at the time kind of trader.
Its more fun looking further ahead than I imagined, who knows............
Attached Thumbnails
risk-perspective.gif  
__________________

Last edited by superfly; Feb 25, 2009 at 8:44pm.
superfly is offline   Reply With Quote
Old Feb 25, 2009, 9:48pm   #23
Joined Mar 2005
The lack of development in the bottom half of that lower profile represents a violent rejection of the lows.

Also, the portion of that profile above the point of control (where price is now) is narrow and shouldn't be difficult to overcome.

Depends on price making that initial thrust up, to "lean on the ledge", but thereafter it should travel through the area between the two profiles like a dose of salts.
Joey25 is offline   Reply With Quote
Old Feb 25, 2009, 10:31pm   #24
 
Atilla's Avatar
Joined Nov 2006
I'm not sure if I see another symmetric triangle or a flag (both drawn for good measure) but using text book theory again I would say after a period of congestion it will continue in the direction of the main trend ie. down in this case.

Once again I would base my decision on breakouts from S&R lines and direction of MAs.

Having looked at volume it doesn't seem to indicate one way or the other and not much help on this occassion.

Failure to make higher highs is a concern however, after the long drop so I'd guess market is in retreat.

Down for me.
Attached Thumbnails
wot2.gif  
__________________
Know your L I M I T A T I O N S
Atilla is offline   Reply With Quote
Old Feb 25, 2009, 10:52pm   #25
 
elitejets's Avatar
Joined Dec 2008
No Laughing at Noobies

Ok here is my attempt.
I dunno, I am lost without moving averages ...

Nicola
Attached Thumbnails
wot2.gif  
elitejets is offline   Reply With Quote
Thanks! The following members like this post: hwsteele
Old Feb 25, 2009, 11:06pm   #26
Joined Nov 2007
Click the image to open in full size.
rawrschach is offline   Reply With Quote
Thanks! The following members like this post: elitejets , smbtnt
Old Feb 26, 2009, 8:35am   #27
 
firewalker99's Avatar
Joined Jul 2006
Quote:
Originally Posted by mr.marcus View Post
.....dont be shy mate....just ask if i do a "calls" service......in the meantime may your trendlines bring you all the prosperity and happiness you wish for....with love as always ...mark j.
No calls required, only one task: see wasp's chart.

Surely one more time shouldn't be that much of an effort? Or just delegate the task to rainman & co...
Take your time, there's no rush
firewalker99 is offline   Reply With Quote
Old Feb 26, 2009, 8:57am   #28
 
mr.marcus's Avatar
Joined Aug 2003
like i told you....i aint giving you calls....learn to make money for yourself.....and as it is the nq chart up to date....nice try.however i was talking only yesterday with wasp and trendie to discuss "live" audio trading...so go figure.i choose who i do "live" with...no on else.

ps....rainman is not in my business so stop speculating.....oh and i probably have "sucha smalla *****" compared to you....there you go...i admitted it.
__________________
...may sai david copperfield bless you....and grant you many pips on cable.

Last edited by mr.marcus; Feb 26, 2009 at 9:13am.
mr.marcus is offline   Reply With Quote
Old Feb 26, 2009, 9:20am   #29
Joined Apr 2008
feck you all - i was supposed to draw lots of fakeouts everywhere but i got distracted by some video about a man and a jar.

wot2.gif
KillPhil08 is offline   Reply With Quote
Thanks! The following members like this post: elitejets
Old Feb 26, 2009, 9:35am   #30
Joined Feb 2007
Quote:
Originally Posted by mr.marcus View Post
.....and as it is the nq chart up to date....nice try.
Sneaky Wasp! We get to find out for real then.

I'm liking these WOT threads, nice of you to bring them back , they beat Sudoko
__________________
"Knowing others is intelligence; knowing yourself is true wisdom. Mastering others is strength; mastering yourself is true power."
- Lao Tzu

"A woman is a lot like a refrigerator. 6 feet tall, 300 pounds ... it makes ice."
"Facts are meaningless. You could use facts to prove anything that's even remotely true!"
"How is education supposed to make me feel smarter? Besides, every time I learn something new, it pushes some old stuff out of my brain."
- Homer Simpson
rags2riches is offline   Reply With Quote
Thanks! The following members like this post: firewalker99
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Article: Basics of Trading: Part 3 T2W Bot Educational Resources 13 Oct 21, 2012 1:26pm
Trading BS: part 1 shadowninja General Trading Chat 9 Dec 1, 2008 1:47pm
Article: The Return of the Bear - Part Two T2W Bot Educational Resources 2 Jul 13, 2006 6:55pm
Article: The Basics of Trading:Part 2 T2W Bot Educational Resources 8 Feb 16, 2005 11:09pm
Part-time strategy SAINT First Steps 1 Jun 3, 2004 8:32pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)