Wot Happens Next (2)

myattitude

Established member
530 69
Good to hear from you John.

Odd result, it broke support only to create a HL to break back up. I would have looked to go short on the retest of old support/new res. Instead in went long on the retest of the renewed old/now again support.

I guess the good thing about these situations is that you don't need your stop very far away and the risk/reward ratio is on your side in the long term.
 

barjon

Legendary member
10,358 1,591
Good to hear from you John.

Odd result, it broke support only to create a HL to break back up. I would have looked to go short on the retest of old support/new res. Instead in went long on the retest of the renewed old/now again support.

I guess the good thing about these situations is that you don't need your stop very far away and the risk/reward ratio is on your side in the long term.
Well, it just goes to show that you can never really know what price is going to do. The best you can do is make assumptions and plan how you will tackle them. Take advantage when the assumptions pan out and cut and run when they don't. Easy said, less easy done.
 

foroom lluzers

Veteren member
3,611 135
I like this set up on 5 m as well .For look risk a stop just below 300 , but I dont like trading like that.

This is how I trade sr
 

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foroom lluzers

Veteren member
3,611 135
Wow, you're proud of £0.1 :LOL:
This is a very nice test and retest of 3.00 today .I liked the stock in my previous post few weeks ago because it was diverging higher against the indices.

You won't get better support confirmations.Oh! you don't trade supports .BTW that is all I trade.
 

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foroom lluzers

Veteren member
3,611 135
I traded 5,000 on Vod and only 500 on B T , this is because Vodafone preceding price intent was very good.It had intended to go higher previously but B T was like sick man.

Both in profit now .I only trade support like Warren Buffet .
 

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