C long/short spotting - should we have a dedicated thread?

[spikefader]

GNTA setting up.

[spikefader]

CIB late to the party. Still worth bidding for though. Bid just over 'c' and stop placement just under 'c'. It's Vulcan-like logic! 1% risk to target 35.00ish, and the weekly 5th up, for 18% profit; r/r of 18 is very nice.

[Runner]

GNTA setting up.

Spike ya think BBH is looking ready?

[spikefader]

What should be the entry and exit price for this (OPLK).
To enhance my knowledge, do we buy in b or c or after c completes. How to know if c is complete.
Thanks

Hi alice,

I think entry very much depends on how you like to trade and your tolerance for risk. For OPLK, it's still in the 'b' so where that finally finishes will affect where you start lookin really. It may still shoot to new highs, not give the 'c', and ruin the pattern, in which case you just let it go. Assuming it finished the 'b' tomorrow and drops for the 'c', I'd start looking around 15.38 for an intraday pattern to take shape. I'll be watchin this one, so I'll post any entry I see.

For these 'c' longs these are the options that come to mind:

1) Try to anticipate the 'c' completion. Meaning you're trying to catch the end of 'c' at the lowest point as price bounces. There's a bunch of ways you can try and do that, e.g. patterns or channels, or divergences, indicators or whatever. I prefer patterns. I also like tight stops and have the time and inclination to search. You on the other hand may not have the time to do that, so perhaps intraday FIB numbers or pivot points that are definable the night before can work too.
2) You can wait for the 'c' to prove it's in by daily candle prices start making higher highs then bid low and hope price comes back; it may not and you miss it.
3) You can wait for the 'c' bounce intraday, then for price to start finding intraday support and higher highs, you may even prefer to wait a day or two for the perfect pattern or reason to enter. Remember though, buy weakness at support and don't chase price and be impatient unless there's a bull flag or something to justify chasing it. Perhaps at an intraday pivot, S1 or S2, intraday bullflags, impulse correctives, intraday 'c' long, or whatever pattern or indicator you prefer.

The problem with option 1) above is you may anticipate wrongly or too soon and stop out. The problem with 2) is price has moved up and away from the optimum 'c' area and you expose yourself to more risk if you chase it.

Goes without saying that 'c' longs do fail! So just stop out and dust off, move on and stalk the next entry.

Good luck with any 'c's you take alice! Post the details or charts if you like; the thread is as much yours as it is mine.

[spikefader]

MDR earlier chart http://www.mrmarketishuge.com/showp...23&postcount=22
Long here 49.35. sub 2% risk.

MDR another successful launch from the pad.

[spikefader]

Spike ya think BBH is looking ready?

Setting up now isn't it?

[spikefader]

GFIG 'c' might be done.

[spikefader]

I think it's time I put in a chart that shows what can happen when a 'c' long fails. It's for OWENQ back earlier last year.

This is for anyone who takes one of this funky 'c' long entries and watches it break the 'c' support and holds on in hope that it recovers.

BE WARNED: c failures can lead to big moves, like in the chart below. If you're experiencing red hope, replace it with red fear of losing more. Just take the hit, stop out, dust off and look for the next setup. -2 to -4% loss is a TON better than -50% or worse.

Make the r/r ratio really nice, and the numbers on your side, and the stop outs won't matter once you nail a few really nice 5 wave moves.

And if you're holding a winner, and get the fear of losing that profit, i.e. green fear, replace it with green hope of making more!

[spikefader]

Re http://www.mrmarketishuge.com/showpo...postcount=6381 from my thread, HANS setting up here for lovely risk of only 0.7% if you bid S2 and stop under 'c' at say 89.50.

[spikefader]

Hey folks! Here's another example of failing to underestimate the power of a 'c' failure.

I took GM short in the Port of the week competetion Monday morning, no stop cuz I'm really bearish on GM. lol Doh!

Getting my head handed to me! And I deserve it....

So learn this lesson everyone! When 'C's fail, they can fail BIG. HUGE even! lol So make 'em pretty.

[spikefader]

OPLK.

alice,

Today's thoughts on OPLK:

[spikefader]

FCBP update:
re this post http://www.mrmarketishuge.com/showpo...1&postcount=61

[Runner]

Setting up now isn't it?

Spike what would you say your average time in position from your C entry? How does this entry line up with the intraday chart in relation to your EW. Example you enter off the beginning of C on the daily, but you intraday chart is showing a completion of 5

thankX for the chart..

[Runner]

Spike what’s ya think of the Amex Biotech Index?

[spikefader]

...How does this entry line up with the intraday chart in relation to your EW. Example you enter off the beginning of C on the daily, but you intraday chart is showing a completion of 5
thankX for the chart..

Hey Runner, I'm confuzzzzzzzed lol I'm not understanding this question. Are you saying this: "How does a 'c' long entry line up with an intraday chart for entry (meaning trigger)?" or said another way, "What do you look for on an intraday chart before you take a 'c' entry?". Is that what you're asking? Are you citing that BBH chart count re the completion of 5??

Also, your example of "enter off the beginning of C" is early. You wanna be entering at the end of C.

LOL Sorry if I'm making no sense. It's been a long day