3SOF

Hey Ares, just to let you know I am not your mystery smiter either, not sure why others would suggest that.  Anyhow, I still see a Asc. Triangle in SPBU, its really hard to miss.  1) upsloping support  2) at least 3 even resistance highs.   

Hope this new picture helps.

Hi Pompano,

Thanks for letting me know that you're not the mystery smiter.

I'm still wondering what a classic MACD you referred to means.

Looking forward to your reply.

Keep in touch.

Ares

Calven, I averaged in at 1.92 - my first position was at 1.88 and I added when it broke $2 - I wasn't necessarily expecting a pullback, but I think that the pullback on BWLRF is now done.  I put the target for the ascending triangle (actually it is more of a symmetric triangle, with a slight downslope on descending resistance) at 2.26 (i.e. 1.84-1.35 = .49 +1.77 breakout => 2.26 target), but as we know often this kind of pattern can lead to  a significant run.  We shall have to see with BWLRF.  Anyway, chart pattern is good, friday's candle was good, and I think it is all set for another push past 2.00.

BWLRF looks nice.

If these are added:
2.5% above the open
green block prints breaking the previous day's high
it will be ...

Happy trading,

Ares

I'm still learning the WolfeWave pattern.

Just a heads up.

This is another possiblity that I see on the weekly chart of BWLRF.

It may be entering the 5th wave of a bearish WolfeWave.


If my analysis is wrong, please let me know.

Ares

Quote from: Ares on April 28, 2007, 08:43:04 AM
Hi Pompano,

Thanks for letting me know that you're not the mystery smiter.

I'm still wondering what a classic MACD you referred to means.

Looking forward to your reply.

Keep in touch.

Sure, what I mean by the classic look:  If you look at the run up in price then the sideways pattern which creates the asc. triangle formation.  From the MCAD you see the MCAD  MA lines moving down toward the center line then  then  the MA lines cross, and the center line crosses over, well that would be what you want to see.  When I say "classic" what I mean is the MA line bouncing off the center line which would give a continuation of a upward movement.  So on SPBU I would like to see the center line cross over real soon.  You can see the chart had a few fakeouts the past week, and hasn't quite made its move yet.   

You can see the same thing I am talking about on BWLRF from around Feb. to April look at the MCAD. Do you see what I am talking about?  Anyhow I'll be sure to keep this thread updated on SPBU, as I am interested to see if it breaks out or breaks down.   

One more example Ares, w/ illustrations.   

Hi Pompano,

Thank you, and I applaud you for taking the time to explain the classic MACD and giving illustrations.

Few more things added to my memory bank

There's still room for more

Happy trading,

Ares

can someone reccomand me about a good softwere for technical analysis?
for now i use a tool called "Trading solutions" - i like it because it is very good to make analysis if you want to try it i added a link <a href="http://www.jdoqocy.com/click-2459552-10401460" target="_top">here</a> it free.

I'll love to get back some more tools names and links please.
thanks

SXE is another looks ready to breakout of ascending triangle to new highs, I think.
I already started a thread on SXE months ago, but no one seemed interested. Now at $22.07

http://stockcharts.com/h-sc/ui?s=SXE&p=D&b=5&g=0&id=p57332447542&a=109616299

Ascending Triangle
The Ascending Triangle Pattern is formed when a chart has higher and higher lows with a resistance level it cannot break through. This is commonly a battle being fought hard by the buyers of a stock. The stock's intraday highs are not increasing, but its average intraday price is.


With the above chart you can see the bullish nature of the Ascending Triangle Pattern. The chart clearly shows how the buyers are pushing the lows of the stock up higher and higher. Should the pattern continue the buyers will eventually have a face-off with the sellers at the resistance price. Most often the buyers win this battle and push the stock through its resistance level usually causing a nice run.


The above image shows an example of an Ascending Triangle Pattern that resulted in the stock eventually breaking through resistance and having a nice bullish run.