Wot Happens Next (2)

This is a discussion on Wot Happens Next (2) within the Technical Analysis forums, part of the Methods category; Originally Posted by barjon Nice one wallstreet The LULZ king goes to de ZOO...

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Old Jun 16, 2017, 5:36pm   #31
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Nice one wallstreet
The LULZ king goes to de ZOO
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Old Jun 23, 2017, 8:20am   #32
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Here update ;

I stated earlier what price would do , it is doing exactly that.
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Old Jun 23, 2017, 8:46am   #33
 
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Here update ;

I stated earlier what price would do , it is doing exactly that.
Er, no you didn't - stop trying to be a clever dick. You did say that you wouldn't buy in a million years but you never said where you might sell (and of course you think breakouts fail so I guess you never would have).

As I constantly remind you, the threads are not about trying to be clever in predicting movement, but about indicating how you might trade one way or another.

Last edited by barjon; Jun 23, 2017 at 10:26am.
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Old Jun 23, 2017, 9:05am   #34
 
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BT is now making LLs. Currently at 288.

The 300 support has failed along with the upside expected move.

Revise LLE down to 302, SL @ 287, target area around 330s

BT has continued making LLs and seems to possibly have found 'a' floor at 276.


Taking a long market entry here @ 284.43 with SL @ 279.43. Target area @ 300. Expecting it to reach this previous strong support level.
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Old Jun 23, 2017, 10:50am   #35
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BT has continued making LLs and seems to possibly have found 'a' floor at 276.


Taking a long market entry here @ 284.43 with SL @ 279.43. Target area @ 300. Expecting it to reach this previous strong support level.
Still watching these lows, just want to see a bit more definition in price, and maybe some hints from the volume, that there is no more lower intentions.
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Old Jun 23, 2017, 11:06am   #36
 
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Still watching these lows, just want to see a bit more definition in price, and maybe some hints from the volume, that there is no more lower intentions.
Yes and you may well be right. I was thinking instead of putting 10-15 point stop I'll split that up into 2 or 3 x 5 point stops and pick a bottom.

I might well get smelly fingers as markets are at highs and if we do have a climb down in indeces I'm sure BT will test the lows again. Hence, the tight stop.

Also, I've always liked the 20 / 80 levels as reasonable over-shoot areas before pull backs to the 100s.
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Old Jun 26, 2017, 9:04am   #37
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There it is
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Old Jun 29, 2017, 8:16am   #38
 
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BT has continued making LLs and seems to possibly have found 'a' floor at 276.


Taking a long market entry here @ 284.43 with SL @ 279.43. Target area @ 300. Expecting it to reach this previous strong support level.

BT price @ 294 and on 4H charts it has crossed over MA 50 & 200.

I will be looking to add to position when MA50 crosses MA200.


Position currently up +10 points. SL set to trailing @ 5 points.

This is because there's been an announcement re: invesigation in to PWC audits. Following completion of initial enquiries, the Financial Reporting Council (FRC) has commenced an investigation under the Audit Enforcement Procedure into the audits by PricewaterhouseCoopers LLP of the consolidated financial statements of BT Group plc (BT) for the years ended 31 March 2015 to 2017 inclusive.

I know we are only looking at TA but price can take sharp turns either way. This news also seems to effect PWC more than BT where the bad news is already out.


300 is the area to watch for any pull backs.

Steady as she goes...
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Old Jun 29, 2017, 8:19am   #39
 
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barjon started this thread Nicely done, atilla
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Old Jun 29, 2017, 8:22am   #40
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BT looks like having some underlying strength or support , a buy now with a stop below the recent low is a trade .Does 300 the previous support become resistance?

As a stock trader I would say 60 /40 probability in favour of a buy
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Old Jul 3, 2017, 5:31pm   #41
 
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BT stopped out @ 290.5 for +6.

Still not a convincing bouncing having shied away from 295 before it even got to 300s.

I suspect it'll move sideways but don't have strong opinion either side technically. Down trend still the main play. 300 will be key test.

MA's on 4H still no cross over and MACD indicating a sell.

I'd say consolidation due to take place between 280-300s.
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Old Jul 13, 2017, 2:38pm   #42
 
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Just saw this. Without looking to see what happened next, I'd have looked for a break of the floor plus a failed retest as an entry. An upward move would need a whole HL to forge before I would have considered taking it, which would have been too long to be clear and I wouldn't have gone long at at all until something clearer was available to the upside.

Okay that's me sticking my neck out. Let me guess, it went long!?
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Old Jul 13, 2017, 2:57pm   #43
 
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Just saw this. Without looking to see what happened next, I'd have looked for a break of the floor plus a failed retest as an entry. An upward move would need a whole HL to forge before I would have considered taking it, which would have been too long to be clear and I wouldn't have gone long at at all until something clearer was available to the upside.

Okay that's me sticking my neck out. Let me guess, it went long!?
Sorry tried to post a link to chart (I'm not on pc atm) but no go. Yup, dropped through the floor came back for a retest and dropped again to a higher low, strong last couple of days to get beck to floor again.
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Old Jul 13, 2017, 3:08pm   #44
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Originally Posted by foroom lluzers View Post
BT looks like having some underlying strength or support , a buy now with a stop below the recent low is a trade .Does 300 the previous support become resistance?

As a stock trader I would say 60 /40 probability in favour of a buy
The set up is now good , if a full bar low on daily remains above 3.00.It is now worth a punt on above set up.


I only trade supports
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Old Jul 13, 2017, 3:10pm   #45
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J

Okay that's me sticking my neck out. Let me guess, it went long!?
Please stick your neck out and make a masterclass foresight call.
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