Real Time Wot to Do

barjon

Legendary member
10,705 1,809
Following suggestions on the Wot to Do thread here's a real time one for RBS. As anyone comes across this thread do your analysis from the thumbnails before you look to see what the latest state of play is. the daily, M15 and ftse included to help.

You're working from H1, entered long with stoploss as indicated with a target area in mind. Good move yesterday but opening down gap and we're here shortly after 11am. What are you going to do?
 

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Purple Brain

Experienced member
1,613 179
Rationale for exit is that the gap down bar closed in the upper region of the HL range which was bullish, but the subsequent bars 'filled in' that lower shadow and has traded below the opening bar's low.
 

scholfield

Established member
993 233
I'm holding her long! Balls of steel.
I think it could go lower down to around our entry, but I'd expect another leg up and I think our stop will be safe.
 

Purple Brain

Experienced member
1,613 179
RBS looking to divest it's $800m loan to Eagle Bulk. I would have thought the move to reduce balance sheet risk would have been interpreted in a positive manner - unless the perception of their intent is seen as being born from a position of relative weakness. I guess it depends on how much is being bid to take that $800m off their books - probably hugely discounted.
 
M

member275544

0 0
Personally, I think your initial target was perhaps a little ambitious
I am with you on the entry, but short term targets have been met and slightly exceeded. The retrace could be going as low as 323 and with a sell signal I'm well out of there and looking to get back in.
Thats my rationale anyway
 

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Purple Brain

Experienced member
1,613 179
Interesting to look at a different asset class to forex.

Is there any basis for suggesting 332 is a technical s/r level, currently acting as resistance?
 

barjon

Legendary member
10,705 1,809
Three hours later and it's looking like this - a little worse for wear

PurpleBrain shouldn't be worrying about target since he's already gone :LOL:
Malaguti out and on the sidelines waiting to pounce again
Balls of steel Schofield and Triggerfish playing the long game.

See if US wakes things up one way or t'other
 

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Shakone

Senior member
2,458 665
By the way, is there any expected news out for RBS soon (coming days)? I don't trade stocks, but you wouldn't give us a chart right before earnings or some court hearing for fixing would you Barjon? :p
 
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wackypete2

Legendary member
10,229 2,055
I was unable to get in on the start of this so I will just say what I would do right now which is not how I would have played it from the start.

EXIT HERE
Look at the daily chart, trend is currently down. The green candle looks like a blow off top from the rally from the low and the next day opens much lower. Hourly gap down then some consolidation. All signs point to a retrace all the way back to the entry and most likely lower.

Peter
 
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