First off - thanx to HG particularly and also to many others for sharing their knowledge so generously. I stumbled onto this thread yesterday and already have devoured thirty odd pages. I've always leaned towards basic PA - the KISS method always sees to work best for me and now I'm rediscovering PNF. I've attached a daily chart (CHF if it doesn't make it thru) that appears to conform to HG's DB Reversal trade. Am I right? If so, would a legitimate first target be the 56 area - assuming that the 51 area is taken out? TIA Marc
Seems like a good short entry here with a 1 dollar stop EDIT: On a quick look I probably wouldn't enter, as it has gone up quite a bit in the past couple of days on news
no target of 56 as yet. box size is $1 3 reversal hilo the stock is in a downtrend,however there is a recoil to an internal trendline.the last signal was a double-top,so it is bullish. so thinking in holygrail terms,await the pullback and wait for a consecutive double-top.the 52 area is strong res.the pullbacks from 52 have been fierce
esclosed is a better chart.60 cent box size using close only price.3 reversal price is in a strong uptrend and has retraced back to the trend line.if it is a good spot to go long,if the trendline offers support..however, price is in a downtrend and the last signal was bearish.also a vertical count of 36.6 price has turned today.but make sure that the trendline is the base for the next upswing
On an earlier Post, when I rcommended LSR, YAYT thought it was a no buy because of volume. Am I wrong to disregard volume in swing trading using PNF. Currently I am judging a stock by its movement. I.e. distance from last numbered box. enclosed is one good chart and one poor chart Am I wrong to do it this way?