Break Out Trader...

[The Baptist]

Hopefully the chart Labels cover all the aspects of this BO.

Happy Equity trading.

better chart

 

[The Baptist]

For better visuals on chart click a second time on chart once loaded and then use zoom 'maginfying glass with plus sign' best we have for now.

Happy trading.

 

[mb325]

Baptist, I scanned a few charts last week and identified Kazakhmys PLC as a potential breakout trade. It broke above 1000 a few days ago and is now around 1100, I was just wondering if you would've taken this trade and if so how you would have played it?

 

[The Baptist]

Baptist, I scanned a few charts last week and identified Kazakhmys PLC as a potential breakout trade. It broke above 1000 a few days ago and is now around 1100, I was just wondering if you would've taken this trade and if so how you would have played it?

Good find mb325!

I haven't scanned Equities in a week or so given my exposure, the ITE Grp trade was in the system for awhile before triggering.

I have attached my analysis how I would have traded the position. In the Chart the red dashed line would have been my Stop, The Green dashed line my Entry.

However I would have partially profit locked at the purple dotted line.

As a cautionary todays Candle retreated and with BO's market turns can see quick and abrupt pullbacks. If not already it maybe a decent short term profit take opportunity, Long run I feel you will be on the right side of the trend IMV.

Good luck nice post.

 

[mb325]

Also keeping an eye on Rio Tinto, Aviva, International Power, Man Group, Sage Group and BT.

 

[The Baptist]

Another point, is that the RH1 (Relative High first 1000) - RL1 axis runs from 1000 - 800 a 200 spread the axis midpoint of the pattern was 900.

Typically I would add the 200 amplitude from RH1 to RL1 to the central axis of 900 and lock a second target level at just under 1100, which would have been filled today and would probably seem flat, by now.

 

[The Baptist]

Also keeping an eye on Rio Tinto, Aviva, International Power, Man Group, Sage Group and BT.

Will take a peek at aforementioned, I am largely flat and will starts scanning again.

 

[The Baptist]

Will take a peek at aforementioned, I am largely flat and will starts scanning again.

Rio has crossed into a BO for me already, I like Aviva most advanced of others.

Can get into more detail offline.

On what basis do you conduct scans, ie front end and features you look for.

 

[barjon]

Standard Chartered Bank?

 

[The Baptist]

Standard Chartered Bank?

Good spot an interesting set up.

 

[The Baptist]

A few for others to watch and I have tried to include a few US based as well are:
US

Microsoft
Mcdonalds

UK

Colt
Didata
Shaftsbury

commodities
Crude Oil

Two earlys tage Forex BO's both on JPY weakness against EUR & Swissy

Also varying stages of closeness to BO, also got Rio Tinto, Man in my filter, also Kraft now involved in merger business.

Enjoy

 

[The Baptist]

Standard Chartered Bank?

Good spot an interesting set up Barjon.

 

[mb325]

Rio has crossed into a BO for me already, I like Aviva most advanced of others.

Can get into more detail offline.

On what basis do you conduct scans, ie front end and features you look for.

I decided to manually scan the FTSE 100 a few days ago looking for potential BO setups after reading your thread. I looked at daily candles going back about 2 years, drew on major levels of resistance and then added them to my shortlist if price was approaching this level.

For example, you said that Rio has already crossed into a BO for you. I have a horizontal resistance level drawn in at 2640, tested 4 times in the past year nearly to the pip, price is at this level right now.

I've never used a BO strategy before, just see it as a good way of entering a trade in the current environment. Therefore I haven't commited any money to it yet and am just keeping an eye on my shortlist to see how companies react at various price levels.

 

[The Baptist]

I decided to manually scan the FTSE 100 a few days ago looking for potential BO setups after reading your thread. I looked at daily candles going back about 2 years, drew on major levels of resistance and then added them to my shortlist if price was approaching this level.

For example, you said that Rio has already crossed into a BO for you. I have a horizontal resistance level drawn in at 2640, tested 4 times in the past year nearly to the pip, price is at this level right now.

I've never used a BO strategy before, just see it as a good way of entering a trade in the current environment. Therefore I haven't commited any money to it yet and am just keeping an eye on my shortlist to see how companies react at various price levels.

Hi mb325,

Did not give you a full response on Rios, at one level it had passed an early level break however taking a different view it has yet to put in the ' required Belt hold' day.

I will try post a chart thereon this weekend.

 

[The Baptist]

630% in 22days.

Yell has been my best BO this H2 so far.

Chart attached below with Money Management sheet.

 

[The Baptist]

Oh Rio Rio, Rio... Best Moron Moron song ever..

I decided to manually scan the FTSE 100 a few days ago looking for potential BO setups after reading your thread. I looked at daily candles going back about 2 years, drew on major levels of resistance and then added them to my shortlist if price was approaching this level.

For example, you said that Rio has already crossed into a BO for you. I have a horizontal resistance level drawn in at 2640, tested 4 times in the past year nearly to the pip, price is at this level right now.

I've never used a BO strategy before, just see it as a good way of entering a trade in the current environment. Therefore I haven't commited any money to it yet and am just keeping an eye on my shortlist to see how companies react at various price levels.

Ref your query on BO in Rio,

On the daily chart the crossing of 2528 was the BO imv, although no clear distinctive Belt hold day has occurred on the daily (Different to weekly image)once crossing.

Typical BO behaviour on the Daily was the candle that crossed gapped open (opened a window) then Gap was closed (window closed) by subsequent pull back day, thereafter progress resumed, showing the level was a line of significance.

However the weekly chart shows everything better, the move is a belt hold weekly Candle and the Pattern is clear'er on the longer time Frame.

Good spot by the way and I am in this trade, hope the charts help, I have a medium term target of 3684 within 60 days, which is a good move. Note the substantial gap lines for consolidation areas, or zones.

Happy Trading

 

[mb325]

Thanks for that. I'm not in myself due to lack of BO experience but I think your post just doubled my knowledge of this kind of setup!

According to my feed, today's candle gapped down and made a low at 2527, before retracing back to 2603. Even though the previous candle wasn't bearish, would you still consider this a bullish belt hold of sorts?

Edit: What is my finders fee?

 

[The Baptist]

Thanks for that. I'm not in myself due to lack of BO experience but I think your post just doubled my knowledge of this kind of setup!

According to my feed, today's candle gapped down and made a low at 2527, before retracing back to 2603. Even though the previous candle wasn't bearish, would you still consider this a bullish belt hold of sorts?

Edit: What is my finders fee?

Had both it and Man on my scan, I have too many hits to work through at present and can run 3 different platforms, when you add currencies and commodities, I am not short of anything but time

Got too many shares at the moment which bodes well for the indices in my view, Inflation cometh in my view, many will go up only the best break outs in real terms.

Lost my feed so can't comment on open on Rio.

 

[The Baptist]

Rio Tinto PLC

YouTube - Rio Tinto PLC Buy for BO!

 

[The Baptist]

ITE Group hit 111 target for a nice return last week.

Rio Tinto is up 4.51% since entry very confident on this one other shares BO's looking rosy as the larger market runs.

I can see resource shares doing well, following my view on precious metals with softs to follow. (see other threads on Gold)