35854 replies to this topic

[Mad Max]

Said beware because this morning's big green represented the up leg to the top side of a downward channel. 

Okay, cool, now I get it. Whenever it hit the trend line, it then reversed with great force!  thanks  mate!

[Magic_Matt]

Thanks. But you said "beware" . Why should the bulls beware as it is breaking up and out and so should be a good thing ?

Said beware because this morning's big green represented the up leg to the top side of a downward channel. 

[Mad Max]

Here's a pic.... note at the bottom, that trendline which is the bottom of a megaphone pattern on dailies.

Thanks. But you said "beware" . Why should the bulls beware as it is breaking up and out and so should be a good thing ?

[Sunesis]

or break through the upper level

That line was support, it took bears 2 attempts to break it. If bulls break it and close above then they are back in control.

Weather we break it with 1st attempt remains to be seen.

 

1st attempt don't usually happen.

[Magic_Matt]

Care to explain ...?

Here's a pic.... note at the bottom, that trendline which is the bottom of a megaphone pattern on dailies.

Attached Files

•  3 peaks.JPG   111.41KB   9 downloads

[Mad Max]

Its about to hit the upper level of a trading channel on the 4HR

One could say the same thing for the 1 hr,  2hr or  3 hr  . What is so special about the 4 hour one .

[RBM]

Its about to hit the upper level of a trading channel on the 4HR

or break through the upper level

[Mad Max]

Bulls beware, see 4hr chart... 

Care to explain ...?

[RBM]

As long as the dips are not more than 150points from every rally, then we are holding

depends on the timeframe that one trades

[fabes]

Thanks guys, I also think this is giving hope for the bears, whereafter we will rally up again, but can't help but be carefull. Gonna be the longest 3 hours this afternoon.

[Sunesis]

We are holding strong so we should move up

As long as the dips are not more than 150points from every rally, then we are holding

[RBM]

over 39600 should take us up another 200 points

[Sunesis]

S, what do you think will drive the markets this afternoon? I'm not banking on the US purely cause of the past week(where we didn't follow any markets).

 

I'm seriously considering taking my profit and waiting for further confirmation. down 100pips(profit) since 12:00, but I have a strong feeling we might push hard this afternoon. What to do...

In cases like today it's best to lock in your profits by bringing your stops to profit. 

Its always best to wait for US open. Or close just 15min before US opens

[RBM]

S, what do you think will drive the markets this afternoon? I'm not banking on the US purely cause of the past week(where we didn't follow any markets).

 

I'm seriously considering taking my profit and waiting for further confirmation. down 100pips(profit) since 12:00, but I have a strong feeling we might push hard this afternoon. What to do...

 

We are holding strong so we should move up

[fabes]

Will 14h30 breakout time come to play today

S, what do you think will drive the markets this afternoon? I'm not banking on the US purely cause of the past week(where we didn't follow any markets).

 

I'm seriously considering taking my profit and waiting for further confirmation. down 100pips(profit) since 12:00, but I have a strong feeling we might push hard this afternoon. What to do...

[Magic_Matt]

Will 14h30 breakout time come to play today

I get a feeling we on our way down to test IG 38800, the absolute bottom of that daily megaphone pattern.

[Sunesis]

Will 14h30 breakout time come to play today

[Argento]

Last thing, if you rememer this and have the patience it would help you tame the ALSI beast (still learning everyday)!

 

Market is always busy with patterns, either a bullish/bearish flag, wedge, triangle, H&S, inverted H&S, double top, double bottom etc, once you identify it you can just sit back and enjoy the ride!

 

So...we know the double bottom count has been filled and trend is now down, so before a 3000 point upmove (what I expect once this downtrend is done and part of a top formation) she will need to create a pattern....go back and look at the Feb and April lows..a nice inverted H&S.

 

Got a feeling she will do the same next month..and it will be an excellent buying opportunity, don't get trapped with longs and wait for that confirmation!

 

But let mr market decide...

 

A

Edited by Argento, 27 November 2013 - 01:05 PM.

[joker]

Short at 39715 futures. My gut tells me the world isn't ready to be confident in SA stock just yet. This is a random jump.

[Argento]

A, is this (VIX) the same as the JSE Top40 SAVI Index?

 

Where do you get it?

Yip, SAVI it is!

 

On Bloomberg!

 

A

Edited by Argento, 27 November 2013 - 12:45 PM.