(This post was last modified: 2014-04-03, 07:22 PM by pcabc.)
RE: UK Stocks - Watchlist and Discussion
Not got charts set up yet, sorry no pic. Rolls-Royce (RR.L) might look good for a short - it seems to be pulling up and looks almost like the best examples out of the book - too good not to mention.
Caveat, I've never sold short in my life so a second opinion would be useful. I'm wondering whether to try this one but would have to do so via a CFD - which has not been a fruitful experience to date.
(This post was last modified: 2014-04-03, 07:22 PM by pcabc.)
RE: UK Stocks - Watchlist and Discussion
Not got charts set up yet, sorry no pic. Rolls-Royce (RR.L) might look good for a short - it seems to be pulling up and looks almost like the best examples out of the book - too good not to mention.
Caveat, I've never sold short in my life so a second opinion would be useful. I'm wondering whether to try this one but would have to do so via a CFD - which has not been a fruitful experience to date.
(2014-04-03, 06:52 PM)pcabc Wrote: Not got charts set up yet, sorry no pic. Rolls-Royce (RR.L) might look good for a short - it seems to be pulling up and looks almost like the best examples out of the book.
Hi pcabc, RR.L looks like an excellent example of an initial Stage 4A pullback. It's in one of the weakest sectors and had a strong volume initial breakdown. So imo, you would need to wait for a close below last weeks low for a potential entry point as it's slightly above the initial Stage 4A breakdown level still currently, but it depends on your trading style as others might want to be more aggressive and get in sooner with a very close stop. Attached is the charts
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
(2014-04-03, 06:52 PM)pcabc Wrote: Not got charts set up yet, sorry no pic. Rolls-Royce (RR.L) might look good for a short - it seems to be pulling up and looks almost like the best examples out of the book.
Hi pcabc, RR.L looks like an excellent example of an initial Stage 4A pullback. It's in one of the weakest sectors and had a strong volume initial breakdown. So imo, you would need to wait for a close below last weeks low for a potential entry point as it's slightly above the initial Stage 4A breakdown level still currently, but it depends on your trading style as others might want to be more aggressive and get in sooner with a very close stop. Attached is the charts
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.