trading week starting the 17th

A man went fishing. He brought with him a fly & a fly casting rod. He went to the mountains & caught a Trout. Another fellow also went fishing. He took some prawns and a nice Jarvis Walker. He went to the mangroves & caught a Mangrove Jack. Still another fellow took some worms, went to the mouth of a river & caught some Grunters. I went fishing. I took a huge net & a massive boat along to pull that net. By the end of that day I had caught a plethora of fish. Some, I didn’t want because they were too small, so I threw them back in. But by using that huge net. I was able to catch plenty. I suppose what I’m trying to say is. Trading is exactly the same as fishing. If you limit yourself by being a break-out trader, gap trader or momentum/trend trader, then your catch will be limited. Broaden out and learn all aspects of your craft. Cast a wide net and have the correct equipment to actively work that net. Work that net in all seasons and conditions. Learn to work the deep waters along with the shallows. When other lesser traders are taking the day off because the “News” is bad. You rise up. Do a thorough search of that treacherous water to find your bounty. Always remember that even on the worst of days your still going to see at least 100 risers & that’s just on the ASX. Who said, that as a trader you have to limit yourself to the ASX anyway. Although for now and for the sake of sanity on this thread we will. I honestly can’t remember a day with less than 150 risers. There may have been. But can’t remember it.

Over the course of this thread we have covered a few things. Hence the progressive tone this thread is taking. This week the analyses will be placed into five groups. Pullbacks & breakouts. This includes any stocks that fit that criteria. Confirmation is still required as some are still retracing and may not be at the bottom of that retrace. Swing & trend covers those stocks that are rangebound (swing ) or are already trending (momentum). If you’re new to the thread. I recommend you go back and read the previous threads. Candle is where the candle is the main consideration for the trade. S&R well if it’s at support you can take a position with confirmation. If it’s at resistance, you want it to break through or let it retrace off resistance and buy back in at support on confirmation. Interesting just covers those that there’s basically a gut feeling about or certain criteria is matched. These are more for curiosity sake than real winners. Although VRX did sit in this group and I bought in at 0.185 and that can be verified. So sometimes the great trades actually call out to you. You may find the same stock in two groups. That’s because it fits two categories. It’s not a typo on my part. Happy hunting.


PULLBACKS + BREAKOUTS.

TZL = Four price doji. sitting @ that PTs line. 23.60% offered support. 0.56 resistance. Might see some consolidation b4 this takes off again. worth watching for the confirmation though.

SAR = Even without the PTs lines this is still interesting. last candle inverted hammer. resistance @ 80. be interesting to see if the fibb or price can stop the momentum.

SEA = watch for the 62.00% fib holding for confirmation of the pullback. if it goes should retrace to 0.40. stochastic heavy on this.

SMR = gravestone doji not great, but can offer a pullback. 10 pips.

SWK = If the 23.60% fibb continues to hold this should offer a very nice pullback. Probably makes more sense for the ones receiving the charts.

TOE = Slight retrace with a doji. Indecision could go either way.

PDZ = Needs to break that downward trending line. also quite illiquid.

RQL = Apart from the NRC this looks alright. Nice bit of consolidation with this little break out. by the way if any of you have anything interesting from your own analysis let me know and I'll post these up on HC tomorrow.

MAK = Window closed, 50.00% fib alignment, Bullish Engulfing. confirmation on monday.

MGR = Possible 7 cent swing.

MNC = Still worth watching. had that short consolidation phase after the dark cloud cover & the dragonfly looks positive. 23.60% fibb giving support. possible pullback entry.

NXS = Nexus the favourite returned. Only because we are now sitting at the 50% retrace into a WRC. Price can only do 1 of 2 things once reaching S&R. Let's hope it does what we want. Doji giving indecision @ the bottom of a slight retrace is not a bad thing I say unto thee.

LNC = look for confirmation of a pullback on Monday.

BSE = Last week. Still valid.

MSR = self explanatory.

HUN = breakout. careful, that open window causing concern.

IRD = Three Crows. Confirmation Monday. Play it accordingly.

GMG = 4 cent move to next resistance.

ERN = Gap. Looks ok. Open on Monday @ the 23.60% or above would give confirmation.

EWC = Inverted hammer into 50% real body.

CUS = Nice movement here. If you didn’t catch this on lasts weeks winners. Get the confirmation on Monday as it’s at the breakout stage from the 18/7.

DLS = Slight retrace now the possible pullback.

CCF = 50% retrace into a WRC.

AUK = Watch for the pull back.

FML = If the 0.064 doesn’t hold I’d expect a retest of the 0.061.



SWING + TREND.

TXN = Back again from last week. 50.00% Fibb is offering resistance get the confirmation on Monday with the depth on open. Enough momentum will see this pushed through to next resistance at the 62.00% Fibb. First support 0.61 & 0.565.

WRC on reasonable volume with indicators ok. Only the stochastic is toppy. Get the confer on Monday.

TFC = Nice move last few trading periods. Looks set to continue.

VBA = Patterns within patterns, Breakout of the previous high 0.325 but 1.5 cents of the high of 8/7/11. take the entry & go for 1 cent if confirmed or wait for the higher high to have a confirmed break. nice WRC after a consolidation phase.

SIP = That gap is interesting. breakaway gap. Next is a continuation gap. followed by an exhaustion gap. Major resistance is at 0.88 that was the ceiling of the gap created on the 24/2/2010.

SIR = Careful with this as that window needs to be shut. But it is offering nice swings. Don’t get trapped though.

SPT = again pricy, but if it completes the full swing it's about 25 cents on offer. I'd take this as a momentum trade.

SXY = Watch for a retest & confirmed break of the resistance @ 0.465. if not wait for the retrace and buy in on the pullback.

VBA = Patterns within patterns, Breakout of the previous high 0.325 but 1.5 cents of the high of 8/7/11.

EXE = Starting to move nicely, bit further till first resistance hit.

OYM = Looks nice. Any retrace on Monday & that window will be shut, otherwise we have a breakaway gap.

RNI = nice trending here with some good WRC. coming off long term support @ 0.54. shaping up as a good momentum trade.

RQL = Apart from the NRC this looks alright. Nice bit of consolidation with this little break out.

JKA = spinning top signaling indecision. all indicators toppy.

HSN = Finished on Friday with that dragonfly. Worth watching.

EXS = Nice up-trend here. Just remember all good things must come to an end sooner or later.

CUS = Nice movement here. If you didn’t catch this on lasts weeks winners. Get the confirmation on Monday as it’s at the breakout stage from the 18/7.

BWD = Again if you missed out on entering this last week. Keep in mind that first resistance is 0.285.

ATI = Nice trend forming here.

AZM = Window from the 22nd nearly shut.

BCC = Another from last week. Still valid.


CANDLE.


TOE = Slight retrace with a doji. Indecision could go either way.

SAR = Even without the PTs lines this is still interesting. last candle inverted hammer. resistance @ 80. be interesting to see if the fibb or price can stop the momentum.

SGH = Pricy, but a nice bullish harami.

SMR = gravestone doji not great, but can offer a pullback. 10 pips.

PEK = Setting a trending line off 4/Aug, 1/Sep & 7/Oct gives the impression that this is primed for a break out.

RRS = Only because it's sitting on that low of the 5/Aug might give a nice swing entry.

MAK = Window closed, 50.00% fib alignment, Bullish Engulfing. confirmation on Monday.

MNC = Still worth watching. had that short consolidation phase after the dark cloud cover & the dragonfly looks positive. 23.60% fibb giving support. possible pullback entry.

LIN = Bullish Engulfing. WRC. Without a 50% retrace back into the real body this looks promising.

MLM = Bullish harami on a Hammer, Looks good.

IRD = Three Crows. Confirmation Monday. Play it accordingly.

EWC = Inverted hammer into 50% real body.

AAD = Hammer.


S&R.

AZH = Resistance sitting at 0.545.

MUE = Sitting @ long term resistance. If it doesn't break through this time, & third times the charm expect a retrace.

NXS = Nexus the favourite returned. Only because we are now sitting at the 50% retrace into a WRC. Price can only do 1 of 2 things once reaching S&R. Let's hope it does what we want. Doji giving indecision @ the bottom of a slight retrace is not a bad thing I say unto thee.

IRI = 1 cent move to 46 or wait for the confirmation of the resistance being broken.

ISS = Another at resistance.

COE = Sitting at resistance.

AOK = Long term support level @ 0.075. Offering a good trading range from 0.075 – 0.105.

AMA = In again from last week. Resistance sitting at 0.145.


INTERESTING.

SIP = That gap is interesting. breakaway gap. Next is a continuation gap. followed by an exhaustion gap. Major resistance is at 0.88 that was the ceiling of the gap created on the 24/2/2010.

PBT = If Monday's another down day this becomes very interesting 3 Black Crows or 3 Line Strike. Confirmation on Monday. the window from the 4th needs to be shut also.

Three Black Crows

Three Line Strike

MEL = very condensed pennant after tight consolodation. looks like it still has legs left.

MLM = Bullish harami on a Hammer, Looks good.

HIN = Open window with this inverted hammer, be interesting watching to see how it plays out.

DLX = Had the three crows will be interesting to see how it plays out now.

AMU = Couple of possible signals here.

AVG = Looking for this to start making higher lows. To confirm the pullback. Confirmation required.

Plus you should still be watching the ones from last week that are still valid. That was alot of them.



Below are two different charts of the same stock from two time frames Daily & M5. This is further to the post on Friday about receiving confirmation on an exit. A Marubozu turning into a Shooting star or inverted hammer. It may not be the best example. But I hope it allows you to see that during that trade there had to be a point when it was screaming at you to exit.









DISCLAIMER.

I assume absolutely no responsibility for any actions taken by readers of my posts.

I am not providing investment advice, I'm not making any claims, promises or gaurantees. Readers assume all risks, including but not limited to trading losses.

Trading can result in large losses and may not be suitable for everyone.