no clear breakout, but still looks like a consolidation.
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head fake, but really nothing to say, the pullback for now looks like a consolidation.
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Ak,
I am waiting for Dr. Evil push the evil botton. Cougar cranks the espresso machine. Sorry, I don't have any ideas but I decide only to concentrate on Fas and ERX for now.
Last edited by Tabby on Mon Aug 15, 2011 3:41 pm, edited 1 time in total.
Feels like we are at that spot where weak shorts cover creating those head fakes and Bulls Buy dips but real Bears sell rips leaving all of us just holding our breath. Personally I like being in cash at these moments.
Tabby wrote:Ak,
I am waiting for Dr. Evil push the evil botton. Cougar cranks the espresso machine. Sorry, I don't have any ideas but I decide only to concentrate on Fas and ERX for now.
tabby are you in fas on the long side if so where is your upside target?
consolidation then breakout as I expected, just I don't expect this breakout to be strong as well, could be that's it for today.
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Cobra wrote:head fake, but really nothing to say, the pullback for now looks like a consolidation.
Hi Cobra,
If we close here, do you still this is still just a rebound? Has an intermediate bottom formed given today's price action?
still think it's just a rebound.
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Cobra, Amazing stuff. This target was almost met (if not completely - it is not clear what the precise target was from this chart).
today's OR breakout setup is considered as a failure because the intraday pullback was too large.
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Cobra, Amazing stuff. This target was almost met (if not completely - it is not clear what the precise target was from this chart).
today's OR breakout setup is considered as a failure because the intraday pullback was too large.
Ok. Thanks. But the breakout from the triangle earlier this morning also had a similar target.
yes, that's true. so all depends on your stop loss. Forecast is different from trading, this is one example, although forecast seems good but depends on your stop loss the trade might be a failed trade.
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