Posted by parkridge77 on 3rd of Aug 2011 at 01:51 pm
Wondering if any of you guys who trade just on charts &
technicals are waiting for a possible re-test of today's low
area- before going long-- given that we breached the
March lows here today.
IMHO if this closes here with a long legged hammer then I would
see no retest.Personally it we close back above support as we may
with a nice hammer candle then I would be looking to get long
tomorrow around the body of the hammer with probably a stop about
50 (to 70%) down the leg of the hammer.If it eats much more
than 50% of the hammer then it is highly suspect IMO.I would
not necessarily expect a higher close tomorrow even if today is a
nice hammer.A narrow range day with price action around the head
would be fine with me but confirmation would be a close about the
candle high IF today is a hammer candle
Posted by parkridge77 on 3rd of Aug 2011 at 02:13 pm
Hurricane- ty for input- also thinking in energy- lows could
have been put in on so many charts here-- but only buying a little
here today-- Friday is once a month jobs #-- so might get another
shot at the low entries.
Also have in the back of my mind- it' sstill a long way to Labor
Day here
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Here you go Marketguy!!
Posted by dylan398 on 3rd of Aug 2011 at 01:47 pm
Hilsenrath: Fed's Kohn Says Will Give "Very Serious Consideration" To QE3
So..... in order to get more stimulus
Posted by johnc on 3rd of Aug 2011 at 01:59 pm
we just have to make the market start falling apart? Oh boy, are we screwed...
amen! just what i said last night ;-) could still see a retest around this mornings low so wont get too excited yet....thx!
Posted by marketguy on 3rd of Aug 2011 at 01:57 pm
It is depressing when only a bit of potential hopium will spark a rally
Posted by hurricanemalta on 3rd of Aug 2011 at 01:49 pm
will see if this can generate some sort of short squeeze into the close
Posted by mrab on 3rd of Aug 2011 at 01:48 pm
Waiting for a re-test to go long?
Posted by parkridge77 on 3rd of Aug 2011 at 01:51 pm
Wondering if any of you guys who trade just on charts & technicals are waiting for a possible re-test of today's low area- before going long-- given that we breached the March lows here today.
Thnx for any input
Retest??
Posted by hurricanemalta on 3rd of Aug 2011 at 01:58 pm
IMHO if this closes here with a long legged hammer then I would see no retest.Personally it we close back above support as we may with a nice hammer candle then I would be looking to get long tomorrow around the body of the hammer with probably a stop about 50 (to 70%) down the leg of the hammer.If it eats much more than 50% of the hammer then it is highly suspect IMO.I would not necessarily expect a higher close tomorrow even if today is a nice hammer.A narrow range day with price action around the head would be fine with me but confirmation would be a close about the candle high IF today is a hammer candle
Hurricane- ty for input- also
Posted by parkridge77 on 3rd of Aug 2011 at 02:13 pm
Hurricane- ty for input- also thinking in energy- lows could have been put in on so many charts here-- but only buying a little here today-- Friday is once a month jobs #-- so might get another shot at the low entries.
Also have in the back of my mind- it' sstill a long way to Labor Day here