"This doesnt make sense" in chatrooms

Discussion in 'Technical Analysis' started by mute9003, Nov 18, 2021.

  1. maxinger

    maxinger

    all the vital critical important information is already in the chart.

    the more data you get, the more confusing it will be,
    and you might suffer from data analysis paralysis.

    aim for say 60% success rate, not 90% success rate.
     
    #21     Nov 19, 2021
  2. Looks like it’s $2 again in pre market, did you sell?
     
    #22     Nov 19, 2021
  3. maxinger

    maxinger

    Right. it gapped up.

    I'd avoid day trading dpw because it has been very choppy.
    when the stock is choppy & indecisive & repulsive plus size, it is very difficult to earn $$$.
    There are many other easier-to-day-trade, curvy busty sexy stocks.
     
    Last edited: Nov 19, 2021
    #23     Nov 19, 2021
    TrailerParkTed likes this.
  4. volpri

    volpri

    Slight downtrend (yellow line) with a lot of overlapping bars. So, bears and bulls both active. Then a 32 bar trading range (also with overlapping bars so bullish and bearish pressures). The blue rectangle around the range is basically an extended bear flag because the trend is slightly down (yellow line). In addition, at the BO south out of the range at that point price is BELOW every single MA on the chart. Signs of weakness.

    After 20 to 30 bars in a TR the BO direction is 50/50, north or south. This TR has 32 bars so BO can be in either direction. So we see the BO is south. Most BO’s (80%) fail and price heads back towards the range within 5 bars. Understanding this stat the next thing to look for is will the BO go back into the range or is it going to be a successful BO?

    What to look for in a successful BO. Larger bear bars (in this case). Consecutive bear bars (FT). Bars closing near their lows. Price going lower than the last 40, 50, 60 bars (i.e) a NEW BO low is made, PB’s that are at or beneath the BO point. A resumption of the BO direction after PB’s, which happened.

    All of the above was present in the BO so once price resumed …red bar …after the PB (i.e. after those two black bars) it is reasonable to expect at least 1 more leg down and maybe even more than one leg after the initial BO leg.

    In summary, big slightly sloped channel down (yellow lines ..don’t have the lower one drawn in) with alot of buy and sell pressures in the channel. It morphs into a narrower TR (blue rectangle) with overlapping bars. So the larger context shows bearish pressures at play and the range shows both active. Price staying around or below most of the MA’s for some time. And there is follow through (FT) on the BO.

    I see nothing that indicates bullish. That is my take on it.

    96E62900-1550-48B6-A4EE-61EA9B9993E9.jpeg
     
    Last edited: Nov 19, 2021
    #24     Nov 19, 2021
    yc47ib, fan27 and smallfil like this.
  5. S-Trader

    S-Trader

    I'm not familiar with DPW's fundos, story, etc. But my guess is that the people saying its behavior "didn't make sense" were basing it on their interpretation of the news -- i.e., they thought the news was "good"/positive, and therefore expected the stock to go higher as a result. Instead, it gapped up on the halt, and then sold off -- which "didn't make sense" *relative to their own expectations* of how the stock "should have" reacted based on the news.

    In that sense, I suspect that their analyses (however skilled or not) were based more on fundamentals than on technicals.
     
    Last edited: Nov 20, 2021
    #25     Nov 20, 2021
    mute9003 likes this.
  6. deaddog

    deaddog

    When a trade doesn't do what you expect it to do, you guessed wrong; get out!!
     
    #26     Nov 20, 2021
  7. mute9003

    mute9003

    Thanks for great answers yall
    Im starting to see a common trend on many videos where i see the repeating statement

    It didnt make sense until one day it made sense and i started to become profitable
    im basically trying to figure out the catalyst to that...
    Similar to gaming where playing destiny2 pvp i sucked ass consistently over and over intil suddenly i kicked ass consistently after playing it for about a year and losing all the time..i belive competitive videogames might give some advantage to new traders as far as habits of putting in the hours getting your ass handed to you until you get better
     
    #27     Nov 20, 2021
  8. themickey

    themickey

    If I were trading this (I don't trade US mkt) I'd be a buyer on this on mkt open Monday.
    This stock has knocked the confidence out of most retail bulls, I see bullish here, with a stop at $1.94.
    Limit buy @ $2.15 on open.
     
    #28     Nov 20, 2021
  9. easymon1

    easymon1

    #29     Nov 20, 2021
    themickey likes this.
  10. Making sense is always a relative matter. People who are on the gaining side of the trade will find this chart sensible. However, traders who are losing money will think of this chart as utter nonsense.
     
    #30     Nov 22, 2021