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Camglinton_BOWS
Is this not a bear flag? the stock turned on me and went the other way.. Is this preventable or inevitable.
Execution detail:
Comments
tombro
Nape, I have some questions about this...
When Cam entered at 11:32, I could see why he's seeing a flag:
http://screencast.com/t/UXjcAZ3T
Also, tho I think he is a little bit early, price seems to break the trendline formed between 10am and 11:20ish.
Could he consider it a little area of resistance (altho minor) when at 7am it bucked the trend & didn't make a 'lower" high, in that 5 minutes, but couldn't move above 18.60 either (blue line on the attached).
On the negative..it does look like it dropped down onto the top of the 11/7-11/13 consolidation?
Is it better to avoid lunchtime trades like this?
Camglinton_BOWS
the volume just seemed so light to me also- In comparison to the huge distribution earlier. It's like everybody dumped the stock and then bought right back in... smh on this one.
Nape_BOWS
Tom, Yeah you don have price support at 11/7-11/13.
18.60 was price resistance but you also have price resistance here creating a higher low, so the trend was still intact...http://screencast.com/t/OJgCBc9Mfe
This is what I meant to say: 18.60 was price resistance but you also have price support here creating a higher low, so the trend was still intact to the long side..http://screencast.com/t/xjg4dnXn2SO3
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The trend changed here. Notice the higher lows and higher highs (Bullish)... http://screencast.com/t/Z4GmBNIbog