Posted by frtaylor on 26th of Sep 2010 at 10:17 pm
I know you often like to buy at support or (as in this case)
sell short at resistance, w/ a tight stop. In this case, would you
consider that to be a reasonable way to trade PWER, and if so,
would resistance be around 9.70?
Resistance would be near the upper trendline so that's about
right. However, if the flag remains intact too long the less
likely it will be to break down. For instance, examine it in
relation to the move down in terms of time.
I know you often like
Short Setup
Posted by frtaylor on 26th of Sep 2010 at 10:17 pm
I know you often like to buy at support or (as in this case) sell short at resistance, w/ a tight stop. In this case, would you consider that to be a reasonable way to trade PWER, and if so, would resistance be around 9.70?
frtaylor - that's a nice
Posted by matt on 26th of Sep 2010 at 10:48 pm
frtaylor - that's a nice looking Short idea in a sea of longs!
Resistance would be near the
Posted by steve on 26th of Sep 2010 at 10:23 pm
Resistance would be near the upper trendline so that's about right. However, if the flag remains intact too long the less likely it will be to break down. For instance, examine it in relation to the move down in terms of time.
thanks, and good information about
Posted by frtaylor on 26th of Sep 2010 at 10:25 pm
thanks, and good information about reading the bear flag. didn't know that.