Wot Happens Next?

This is a discussion on Wot Happens Next? within the Technical Analysis forums, part of the Methods category; Originally Posted by barjon Well, here's a plan. I have no idea where price will go next but I'm willing ...

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Old May 30, 2017, 1:02am   #17
 
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Originally Posted by barjon View Post
Well, here's a plan. I have no idea where price will go next but I'm willing to make some assumptions at this point.
If i was trading diageo then i would be looking heavily into its fundamentals, everything is there on tinternet if you have the time to analyse it.. The chart is only telling me where price has been, appreciate it's been in a uptrend since 23rd april so i would be slightly biased towards going long, But, It would be the company financials and board meeting news that finally makes the decision...
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Old May 30, 2017, 4:05am   #18
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Originally Posted by counter_violent View Post
No, it's just averaging down into a losing position.

If first entry takes off, then 1/5th stake won't offset all the losers.

Crap strategy.......bin it !
STOCKMARKETS rebound 80 % of the time , after a fall , so he is being inspired by the blind leading the blind , wheN I have given him WINNING METHODOLOGY the WARREN BUFFET METHOLODY.

No wonder 95% fail ,they are guided by jolly rangers

where does it say average down ?Averaging down has increased position sizes with the additions.This is professional trading , once again scalin is averaging .
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Old May 30, 2017, 2:48pm   #19
 
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jolly rangers
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Old May 30, 2017, 3:23pm   #20
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Being a jolly ranger requires different skills , being a trader requires unique skills , only Piphoe and me posses.
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Old May 30, 2017, 3:26pm   #21
 
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It's been a few years since the last Wot Happened Next series so thought I'd start another with slightly different twist. Changed "happened" to "happens" so we're looking forward. Interested in how TA might be used as a tool for trading (NOT as a predictor).

So, here we go. The instrument is Diageo (DGE). You will see from the weekly chart that price has made four failed attempts to close above the March high and has now done so. Also you will see from the daily chart that it has also closed above the earlier daily high closes although it has not challenged the intraday high reached on 17/5

How, then, would you plan to trade it?
barjon, pls be sure to tell us which way it does go eventually. i want to learn from this. tnx
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Old May 30, 2017, 4:00pm   #22
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Originally Posted by barjon View Post
It's been a few years since the last Wot Happened Next series so thought I'd start another with slightly different twist. Changed "happened" to "happens" so we're looking forward. Interested in how TA might be used as a tool for trading (NOT as a predictor).

So, here we go. The instrument is Diageo (DGE). You will see from the weekly chart that price has made four failed attempts to close above the March high and has now done so. Also you will see from the daily chart that it has also closed above the earlier daily high closes although it has not challenged the intraday high reached on 17/5

How, then, would you plan to trade it?
Is using TA as a tool, but not as a predictor a bit of a contradiction, as at the end of the day surely any plan must involve prediction? Just interested, as if it wasnt to predict, why ever use TA? What is the point of TA other than as a decision making process?

Nice idea for the thread BTW!

I agree with what a few others have said with regards to being accumulated earlier, but maybe too late to get in long unless we pullback from here without taking out 2370/80.

We are still near the 52 week highs (so too dangerous to consider selling at the moment), but we have failed to generate new buying interest at the highs. The bigger players still hold long, but wont keep holding forever.

So we are better waiting for a pullback after a "failed B/O" - then looking for an entry about 2260/50 (TA based Pullback) to buy into 2440 ish.

At this point, those that have accumulated will seriously off load n the 2400/500 zone (which has already been mentioned by others). Would really need a decent correction then as bigger players would be fairly flat in their holdings.
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Old May 30, 2017, 4:27pm   #23
 
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Originally Posted by wallstreetwarrior87 View Post
Is using TA as a tool, but not as a predictor a bit of a contradiction, as at the end of the day surely any plan must involve prediction? Just interested, as if it wasnt to predict, why ever use TA? What is the point of TA other than as a decision making process?

Nice idea for the thread BTW!

I agree with what a few others have said with regards to being accumulated earlier, but maybe too late to get in long unless we pullback from here without taking out 2370/80.

We are still near the 52 week highs (so too dangerous to consider selling at the moment), but we have failed to generate new buying interest at the highs. The bigger players still hold long, but wont keep holding forever.

So we are better waiting for a pullback after a "failed B/O" - then looking for an entry about 2260/50 (TA based Pullback) to buy into 2440 ish.

At this point, those that have accumulated will seriously off load n the 2400/500 zone (which has already been mentioned by others). Would really need a decent correction then as bigger players would be fairly flat in their holdings.
maybe you can approach it on the basis that you don't know what it is going to do but that if it does x you'll do one thing and if it does y you'll do another. So you're not really predicting, just reacting?
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Old May 30, 2017, 4:39pm   #24
 
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i'd love to answer but...i wouldn't do anything "here" (referring to original charts). i don't see any edge that "I" can exploit.

i'd wait & see. (i know that's not really an answer in the spirit of this great thread)

On future charts that barjon places, i'd love to consider !
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