OK, I have been through that list, and there are 8 that we could...

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    OK, I have been through that list, and there are 8 that we could have considered.
    Some are obviously of better quality than the others, and one actually failed (unless you were nimble).


    This one didn't have a 'proper' sideways range (but most here didn't), but after the breakout it worked OK
    BGA 150517.png

    This one looks OK.....bit of a wonky sideways range (but I guess that text book perfect, maybe hard to find)...the rest was OK though
    CSL 150517.png

    The sideways range prior was OK on this one, but at the time I would have been a bit concerned about being too close to the nasty downbar a month or so earlier, and the breakout volume wasn't as high as I might have liked either...but there is no doubt it is trying to work.....
    EVT 150517.png

    This one failed in the end, and the warning signs should be remembered. There is weakness in the background (the spike up in price to 14cps) & price is now in a downtrend. Also note that on the so called breakout bar, the absorption period carried price right down to the lows of the breakout bar.
    You can see where the buy should have been considered (or the bar after), and you can see what happened after that.......if you were nimble, you might have got out for break even,,,,,,
    LYC 150517.png

    This one looks OK, and should probably see price defended soon I reckon......
    NUF 150517.png

    This one also was a bit close to a widespread downbar, which would have caused some concerns when considering an entry.
    but it is valid, although price is in a bit of a downtrend overall, which would also have been a concern.
    NVT 150517.png

    TLS is also in a downtrend, and is also pretty close to a widespread downbar with obvious resistance overhead.....
    TLS 150517.png

    This one is in an uptrend by the looks, but does have a widespread downbar very close to the breakout bar (must have been a and announcement, then a good announcement or something)....anyway since the absorption period, price has moved OK, and looks to be testing the top of the breakout bar.
    WOR 150517.png


    From those charts, we can't expect to see textbook perfect set ups very often, but the basic setup looks sound.......a widespread up bar on strong volume, followed by a period of absorption, where price remains relatively strong (trading within the range of the breakout bar, and preferably within the top half of the breakout bar). Then an acceleration higher after the supply becomes quite low during the absorption process.


    cheers
    Last edited by Jako8557: 16/05/17
 
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