wot happened next? No: 6

barjon · Aug 1, 2006

And the next :cheesy:

The final candle of the first chart prints and sparks our trader's interest, so he switches to a lower time frame to follow events. This lower time frame is the second chart (the red arrow points up the final candle relating to the first charts cut-off point

) and the one to use to answer the question wot happened next.

So far as trading is concerned our trader has dithered a bit (well it's a self-portrait

) and looks to the assembled might of T2W to advise where and when there might be an entry and with what initial target and stop in mind. Over to you.

good trading

jon

ps: will give this one 'til Friday evening and post the full chart then

sandpiper · Aug 1, 2006

Jon,

A quick question if I may?

Why does the profile of the bars in your second chart not match the related daily bar in chart 1. More specifically, the final bar on the daily chart shows the low of the previous day being penetrated but the close currently above that low whereas the intraday chart 2 from the arrow forwards shows no such penetration.

Have you included a full sessions daily bar to give us a clue as to what happens next on the intraday chart?

I have the feeling I've missed something obvuous here.

Thanks.

barjon · Aug 1, 2006

sandpiper said:
Jon,

A quick question if I may?

Why does the profile of the bars in your second chart not match the related daily bar in chart 1. More specifically, the final bar on the daily chart shows the low of the previous day being penetrated but the close currently above that low whereas the intraday chart 2 from the arrow forwards shows no such penetration.

Have you included a full sessions daily bar to give us a clue as to what happens next on the intraday chart?

I have the feeling I've missed something obvuous here.

Thanks.

The first is a weekly chart the second a daily. The arrowed bar on the second chart is a friday candle so it and the four preceding it make up the final candle on the weekly chart. I hope that's clear - I've almost confused myself

good trading

jon

sandpiper · Aug 1, 2006

barjon said:
The first is a weekly chart the second a daily. The arrowed bar on the second chart is a friday candle so it and the four preceding it make up the final candle on the weekly chart. I hope that's clear - I've almost confused myself

good trading

jon

Thanks

SOCRATES · Aug 1, 2006

Unless I am very much mistaken this looks like a spring loaded jack in a box, hahaha.

ducati998 · Aug 2, 2006

Strange, as I thought the entire basis of Technical analysis was to utilize a money management strategy in conjunction with the probabilities, viz. 50/50, and dispense with the rather irrational belief that the future was predictable on a consistent basis.

jog on
d998

smbtnt · Aug 2, 2006

TheBramble said:
The time to go long has already occurred (yes, he was a tardy little trader wasn't he) with an initial target of about 0.618 the distance between the previous higher high and the lowest low, from the lowest low.

Initial stop is under the lowest low.

Where would your entry have been? break of the 4th bar from last? or 3rd bar from last?

toro168 · Aug 2, 2006

barjon, any chance you could put some grids on you charts? my eyes struggle these days

barjon · Aug 4, 2006

Well in case anyone is still interested after the wot:5 mayhem. Here's the answer.

After the precipitate fall from around £18 the double bottom showing up on the weekly was the first sign of any bottoming out, coincidentally (and you wouldn't have known this) it occured not a million miles from a key support level established some 4 or 5 years earlier (see monthly chart). The energetic daily candles then gave some credence to the possibility of a jump up and maybe the really aggressive would have been in already although the more cautious might have been mindful of false dawns before and awaited a retracement.

That retracement was a nice one, holding on the close at around the mid point of the long up candle (sorry, if you're reading this bracke

) and fib50%. That gave you an entry when the high of the swing low candle went at around 291 and my own initial target would have been the last swing high on the way down at around 362. After that you could have ridden the remainder of your position all the way up to near 600 with stops (and maybe additions) under the 3 or 4 swing lows that occured on the way.

Well, I hope you've enjoyed these few wot happened next threads. Doesn't seem worthwhile to continue with them now which is a pity. Still that's how it goes.

good trading

jon

rols · Aug 4, 2006

barjon said:
Well, I hope you've enjoyed these few wot happened next threads. Doesn't seem worthwhile to continue with them now which is a pity.

Can't speak for anyone else but I would like to continue......

because....it's not the sort of thing........ you can play at home..... i think everybody has learnt...their leison...now.....not to take the.......mick...or be nasty.....about their fellow traders........so if we could start....again......that woyld be mulch appreeciated.....

Charlton · Aug 5, 2006

Please continue

barjon said:
Well in case anyone is still interested after the wot:5 mayhem. Here's the answer.

Been away in France - missed the mayhem, but can guess what happened from the detritus remaining.

barjon said:
Well, I hope you've enjoyed these few wot happened next threads. Doesn't seem worthwhile to continue with them now which is a pity. Still that's how it goes.

good trading

jon

Please continue - this thread is a valuable exercise, if it is kept on track. I look forward to number 7

Charlton

wanderful · Nov 19, 2006

So.. what happened? Someone got in a fight with Mr. M?

ymonly · Nov 19, 2006

Mr. Marcus is not here to fight. He is the best teacher ever seen here. Extreme disrespect shown so we lose.

SOCRATES · Nov 20, 2006

ymonly said:
Mr. Marcus is not here to fight. He is the best teacher ever seen here. Extreme disrespect shown so we lose.

Exactly, precisely. And I agree with your sentiment and wholeheartedly with his posture which he ought not to review or alter under any circumstances whatsoever.

wot happened next? No: 6

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