Break Out - Opportunities posted

[The Baptist]

Hi

I have a specifc style that focus's on BO opportunities on all tradable underlying assets from shares commodities.

I recently flagged my primary pattern in Gold a month ago on Gold at $550, some followers are still enjoying the benefits of a rather exceptional move.

I continue to scan for similar and thought I may Blog a few of these BO's opportunities for orthers to possible follow and get involved in where it makes sense. I am currently enjoying a number of BO UK shares and others appear to be setting up.

I hope these may prove useful to any others in between strategies and looking hopefully to enjoy a cople fo profitable trades. I spread bet and will trade underlyings covered by CMC and IG. I will provide my entry points and give stops for money management purposes.

Hope it becomes an interesting and profitable thread.

The Baptist

 

[The Baptist]

CBG - Close Brothers - BO within a week

Close Brothers CBG is setting up nicely and may well break out the end of this week still. Last close 1093 I expect it to trade down tomorrow following a hanging man. I expect it to have a final low in the 2/3 days around the 1065 - 1075 mark.

I would look to Buy in this range roughly £50 with stop at the 1057 level. I would add to the position if BO occurs as planned adding a further £25 buy stop at 1097.25 stop placed at a couple of ticks below the BO Bar.

If the chart does as expected we could have BO anywhere between tomorrow through to next week Tuesday. If not the trade is discarded.

I have posted a chart to help, If enjoyed there are more simmering.

Good luck

 

[rav700]

I think this is a very good idea as I am into break outs myself but dont spreadbet on stock and share..I am a forex trader...but this might just have been what I am looking for.....Thanks

 

[The Baptist]

Tomorrows Early Bird BO - FCU - Foreign Colonial

Hi

Those up and at it before the market opens might cacth a BO on FCU if in early.

Place Buy Stop on Move up through 687.75 for £40 - Stop at 675.75 - Caps loss around the £500 if it reverses.

Only available on IG this one.

TB

 

[The Baptist]

FCU Chart fo BO Tuesday trading.

Chart FCU as of Close Monday.

Good luck

 

[The Baptist]

Forex

I think this is a very good idea as I am into break outs myself but dont spreadbet on stock and share..I am a forex trader...but this might just have been what I am looking for.....Thanks

Hi Rav

We do get good Forex BO's from time to time most recent was the GBP/Yen run up from 205 to 210, I road that one back down again too. No Chart I am afraid I only get the USD on other currencies not the crosses.

Thanks for your comment Stocks and commodities seem to work well, Coffee I one I am watching very closely for a fairly big and long term move up. Chart Posted

Good Luck

 

[The Baptist]

FCU - Probes the BO Line.

Chart FCU as of Close Monday.

Good luck

The days action could not hold above 687.5 short term bearish a few down days may ensue before a head of steam is built up for an upside BO.

See Chart

 

[apples10]

The days action could not hold above 687.5 short term bearish a few down days may ensue before a head of steam is built up for an upside BO.

See Chart

Baptist,

Great, keep this thread going. I also love trading break-outs, but don't have the time to look through all the equities as all my time spent doing Indices and Binaries (as well as my proper job, of course!)
I'll keep watching FCU, but for me the flat MACD at such a juncture is a concern as is the lack of upside momentum indicated by the RSI. It needs that brak pretty quick !


rgds

 

[The Baptist]

Bo1

Baptist,

Great, keep this thread going. I also love trading break-outs, but don't have the time to look through all the equities as all my time spent doing Indices and Binaries (as well as my proper job, of course!)
I'll keep watching FCU, but for me the flat MACD at such a juncture is a concern as is the lack of upside momentum indicated by the RSI. It needs that brak pretty quick !


rgds

Hi Apples

Thanks for participating.

My style has reverted quiet extensively away from indicators a lot of which are based on previous price action ie. MACD and RSI. I usually do not need to much support with trend identification to utilise them often. Please do not see this as me debunking their use in anyway, but they do not contribute to my current state of evolvement in this particular chosen 'scenario based' (Patented that one) trading.

I find certain identifiable patterns, particularly continuation patterns in established trends as being interesting. Plus the price action itself expressed in candles as very useful tactically (short term). I have identified a certain set up which I have modestly tagged 'The Baptists 1-2-3' :cheesy:

It is a subset of triangles. however it must make 3 lows and highs with compressed range. This allows greater size of bets as money management rules and the distance between stops and BO points lessen as the pattern develops.

On FCU we had today what I have labelled BO1 the first break out day. Given the shape of this candle it is possible that tomorrow we will have a bullish belt hold day (The open is the low/ very near and the close at the high/very near) usually a proportionally larger move than usual now that we have a full body of a candle through the 687.5.

Also possible, although I hope less likely given the development time of the whole pattern (it has been building up steam for a bit for this break) is the BO is rejected and we get a high open which is forced back into the patterns range.

Indicators invariable lag and all indicators may well turn up drastically if the first option occurs, but little use for catching the greatest 'point of acceleration' (another Baptist patented term ). Think sitting in the Porsche Turbo through the first few gears at full tilt for the safest and briskest likelihood of best progress!

I have reposted the chart with what I believe is BO1 and anticpate that long white bar tomorrow.

As another example, I have attached Gold which I tipped on this board at $550 (see Link) a few weeks ago. I am still involved intermittently in this trade

Good Luck

 

[The Baptist]

Belt Hold example (BO1) on Hayes - HAS

Baptist,

Great, keep this thread going. I also love trading break-outs, but don't have the time to look through all the equities as all my time spent doing Indices and Binaries (as well as my proper job, of course!)
I'll keep watching FCU, but for me the flat MACD at such a juncture is a concern as is the lack of upside momentum indicated by the RSI. It needs that brak pretty quick !


rgds

Apples - A nice example of a belt hold occurred today on my Hays trade just placed my SB a few days ago sub 170, hopefully it can sprint on a bit, but bearish belts can counter at any time so stops want trailing into profit quickly.

In this example I am already mildly in the money with a stop placed at the base of the BO1 bar at 172.

 

[The Baptist]

Bashing Against a Glass ceiling awaiting BO1 - Jessops

Apples - A nice example of a belt hold occurred today on my Hays trade just placed my SB a few days ago sub 170, hopefully it can sprint on a bit, but bearish belts can counter at any time so stops want trailing into profit quickly.

In this example I am already mildly in the money with a stop placed at the base of the BO1 bar at 172.

This one is really interesting I have been in Jessops - JSP a few days still awaiting BO1. 'The bouyancy' is there but 'The Escape Velocity' ( TB Jargen again :cheesy: ) is yet to arrive. Simply put I need a break of the 127.75 level with up close above this level.

This also illustrates why I place far more emphasis on S&R (Support and Resistance) over lagging indicators.

Failure to get steam up and to BO may see a fall back in to range and would mean 'A pattern failure' Stop has been trailed up as decision time awaits JSP. I am hopin g for volume to return which could drive a break, but given the delay at final resistance, downside move is now more possible, a more precarious position, but still worth holding for now.

I will eventually reduce as time elapses 'Reducing time stop' for price action non aligned to expectation.

Hope that find interest. Good trading.

 

[The Baptist]

Hi Apples

Thanks for participating.

My style has reverted quiet extensively away from indicators a lot of which are based on previous price action ie. MACD and RSI. I usually do not need to much support with trend identification to utilise them often. Please do not see this as me debunking their use in anyway, but they do not contribute to my current state of evolvement in this particular chosen 'scenario based' (Patented that one) trading.

I find certain identifiable patterns, particularly continuation patterns in established trends as being interesting. Plus the price action itself expressed in candles as very useful tactically (short term). I have identified a certain set up which I have modestly tagged 'The Baptists 1-2-3' :cheesy:

It is a subset of triangles. however it must make 3 lows and highs with compressed range. This allows greater size of bets as money management rules and the distance between stops and BO points lessen as the pattern develops.

On FCU we had today what I have labelled BO1 the first break out day. Given the shape of this candle it is possible that tomorrow we will have a bullish belt hold day (The open is the low/ very near and the close at the high/very near) usually a proportionally larger move than usual now that we have a full body of a candle through the 687.5.

Also possible, although I hope less likely given the development time of the whole pattern (it has been building up steam for a bit for this break) is the BO is rejected and we get a high open which is forced back into the patterns range.

Indicators invariable lag and all indicators may well turn up drastically if the first option occurs, but little use for catching the greatest 'point of acceleration' (another Baptist patented term ). Think sitting in the Porsche Turbo through the first few gears at full tilt for the safest and briskest likelihood of best progress!

I have reposted the chart with what I believe is BO1 and anticpate that long white bar tomorrow.

As another example, I have attached Gold which I tipped on this board at $550 (see Link) a few weeks ago. I am still involved intermittently in this trade

Good Luck

And now for the Gold Thread Link.. Ooops

http://www.trade2win.com/boards/showthread.php?t=19114

 

[apples10]

Apples - A nice example of a belt hold occurred today on my Hays trade just placed my SB a few days ago sub 170, hopefully it can sprint on a bit, but bearish belts can counter at any time so stops want trailing into profit quickly.

In this example I am already mildly in the money with a stop placed at the base of the BO1 bar at 172.

Hi Baptist,

Shame I didn't follow on HAS (didn't see your posting), you are laughing this am!!

Still waiting for the opening on FCU, 9:03 and still no trades, but given markets expecting it to open up - so I guess you'd expect it to drift off through the day? Therefore I'll keep watching it, any other stocks close to a break ?

rgds

 

[The Baptist]

Hi Baptist,

Shame I didn't follow on HAS (didn't see your posting), you are laughing this am!!

Still waiting for the opening on FCU, 9:03 and still no trades, but given markets expecting it to open up - so I guess you'd expect it to drift off through the day? Therefore I'll keep watching it, any other stocks close to a break ?

rgds

Yes Apples its doing OK. Also just got popped into Close Brothers CBG early this morning on one of my BUy stops as well at 1099,50. up to 1123.80.

Take a look at its chart attached pre break out. Note the Doji ( a open close at the same level day) , this reflected indecision after a down move which was in line with expectations for a successful pattern.

By this I mean the Doji signified the reluctance to move down further and implied the possibility of the next move being up. you may note that, I had already drawn in a pink downswing to the lower triangle line, followed by a green BO line.

By setting out your expectations it easy to remain happy with in range pattern performance leading to BO1 ( ie Blast Off, hopefully anyway :cheesy: ).

I will post end of day late tonight with FCU as well. I am in a few BO at the moment which seems to tie in with the FTSE100 upday today.

 

[trader_dante]

Have you looked at copper?
It's breaking out almost every day.
I've had friends who started a trading account with £50 a couple of weeks back and were on 50 pence a tick - and still holding positions worth several thousand now!

Yes Apples its doing OK. Also just got popped into Close Brothers CBG early this morning on one of my BUy stops as well at 1099,50. up to 1123.80.

Take a look at its chart attached pre break out. Note the Doji ( a open close at the same level day) , this reflected indecision after a down move which was in line with expectations for a successful pattern.

By this I mean the Doji signified the reluctance to move down further and implied the possibility of the next move being up. you may note that, I had already drawn in a pink downswing to the lower triangle line, followed by a green BO line.

By setting out your expectations it easy to remain happy with in range pattern performance leading to BO1 ( ie Blast Off, hopefully anyway :cheesy: ).

I will post end of day late tonight with FCU as well. I am in a few BO at the moment which seems to tie in with the FTSE100 upday today.

 

[The Baptist]

Have you looked at copper?
It's breaking out almost every day.
I've had friends who started a trading account with £50 a couple of weeks back and were on 50 pence a tick - and still holding positions worth several thousand now!

Indeed Interesting market Dante.

I have got so involved in Gold from the initial set up and on every continuation pattern. I have not scoped copper. Gold once again kept me positive for the day despite the FTSE turning back strongly and neutering most of the share based patterns. I figured they were both 'commodity super cycle stories' and the bike I had chosen was a gold one, so I have overlooked copper.

I tend to be more flexible playing pull backs in a underlying asset I caught from the initial break, so I am not sure I would get involved now short of a full set up presenting itself.

 

[The Baptist]

FCU made an interesting Doji back in the pattern range, I see this as a positive development funnily enough after a strong pullback on the FTSE, I have left the original trajectory lines and the pattern still complies. I may add further to this position at the BO of the doji range at 688.5

Close Bro - CBG made a substantial break but this was stunted back slightly though still up , by the later FTSE weakness.

Overall satisfactory considering the market weakness

 

[The Baptist]

Time to Moooooo away from equities

FCU made an interesting Doji back in the pattern range, I see this as a positive development funnily enough after a strong pullback on the FTSE, I have left the original trajectory lines and the pattern still complies. I may add further to this position at the BO of the doji range at 688.5

Close Bro - CBG made a substantial break but this was stunted back slightly though still up , by the later FTSE weakness.

Overall satisfactory considering the market weakness

Market won out on FCU and the pattern has failed, stopped on open.

Live Cattle has faired better and may still be worth a look, thought I'd post this as equity BO to the upside seem like bad news for a bit.

 

[The Baptist]

many making the case for soft commodities fundamentally.

I missed this weekly 'Baptist 123' on Sugar but it still looks like a mover long run.

 

[The Baptist]

GBP/ Yen potential pattern BO

I think this is a very good idea as I am into break outs myself but dont spreadbet on stock and share..I am a forex trader...but this might just have been what I am looking for.....Thanks

Hi Rav,

I have a set up for ' A baptist 123' Bo for GBP against Yen, this gives a buy stop on GBP around 208.52 area.

No charts I am afraid this comes from my SB platforms charts. I dont get the crosses on my MS9.1 download. On that note anyone got a better way for posting MS charts, I am aware the paste into word job is far from brill.

Thank you for any responses on that.