Here's the breakdown of the stages:have you got a detailed stage analysis chart including 1a 3a etc etc..i found one the other day but can't find it now..
No worries, it's good to talk to someone about it. Like I said it will help me focus and learn myself as I think you always learn better in an interactive manner. Although I do have to pop out for some physio in a bit, so will be offline after this for a few hours, as I have a broken collarbone at the moment.cool. thanks.. you did want someone to correspond with..hope i not going on toooooo much....
you watching anything?
wopuld you agree ATK is similar to aml..on daily needs to clear 640, and on weekly about 1a?
It's an interesting one. The Oil & Gas Producers Sector is outperforming the market currently and has pulled back to support. PMO.L however, is under performing it's sector, but performing inline with the market - which is in a downtrend. On the daily the trendline support is around 345 and on the weekly there's a rising trendline at 320, so I'm not sure I'd personally take it as the risk reward ratio is only about 1:1 for a short term play unless you bring you stop in tighter above the daily 30 week MA around 365.what you think of this as a potential traders entrance... had a 4 then a pullback to 30wma.. now if starts falling dsay below 350 with stop above 383?
What you need to do to filter them further is sort the sectors by relative strength. Attached is the list as of 25/11 sorted by strongest sector at the top to weakest at the bottom since the October low.not sure if it interests you, but have gone through about the top1000 uk shares this afternoon, and these are the ones i found interesting..
long aey aht aie arm avon bkg car cct cpp dia fenr ged hyr inppipr itm jlf pay phnx prv pure qq ror weir wtm.
short aal abc afr ashm bba bee blnd blt boy bram brby brwm bvic cbg ccc chw clln cne cpp cscg csrt dcg dia dtc dvo efm enq fcs fdsa fgp fum gpor gss has hfd hl hlma hmso hoc hri iem ihg imi inf ipf itrk jdw jmf kaz kmr lad land lse lsp mgcr mjw mks mpi mrc mul nex nii oml pmo rsl rsw safe sdl sgro shb sks smdr smin srp sthr stob sxs tem tmpl tpk utg vct wpp xar...
Poor relative strength, a lot of resistance to work through and no 2x the 4 week average volume increase on the breakout. I'd say it's now in Stage 1B. It might go higher, but it doesn't meet the methods requirements.wat you think to ppc? on weekly broke out stage 1?, then pulled back, now looking to go off again.
only thing is breakout volume was low?
US stocks are easier to see the volume changes on the straight volume chart like your previous good example, but I think it still works on UK stocks, but because of the thinner volumes I use cumulative force index to decipher it, by looking for a build in volume above it's moving average and positive divergence.do you find uk volume on breakouts work? i must admit in all years i traded ive ignored it as there not a lot of it in general unlike usa shares
must admit as a rule i do prefer the rolls royce type chart to the aml, atk eg i gave you..I noticed both of your picks are stocks that have fallen hard like the market has and so have resistance to fight through still. A big component of the method relative performance versus the market. You want to buy strength and sell weakness, so I'll give you an example of one of my current trades to illustrate this. The market trend was down when I bought this, so it breaks the rules a bit, but I think it's a good example of a good relative strength stock breaking out and currently retesting the breakout level. It might fail because the market is still negative, but has potential to move higher because of the size of the base and lack of resistance above it.