EMphase's Vault of Secrets

[Rob]

Wal*Mart

This technique you describe is new to me, and it looks interesting. As a first stab at it, would you say this chart says 51 as a near-term target for WMT?

Or is there something in this triangle pattern that makes it not a good candidate? I'd be interested in your take. Thanks.

[DSteckler]

E needs to be lower than C, Rob. Otherwise, it's still D.

[Runner]

E needs to be lower than C, Rob. Otherwise, it's still D.

E does not need to be lower then C in a contracting triangle. I think the chart is bullish check out the weekly chart of WMT.

[DSteckler]

E does not need to be lower then C in a contracting triangle. I think the chart is bullish check out the weekly chart of WMT.

Oh, I didn't realize he was charting an EW plot.

By contracting triangle, do you mean a symmetrical triangle? The latter is a type of the former.

[New-born baby]

Wmt

I think WMT is a bear until she busts that $48 resistance. Descending triangle.

[DSteckler]

Resistance at 50 (the descending resistance line on the weekly chart) and 52 (the 200-week MA).

[EMphase]

WMT is definitely not a triangle for the short term. a,b,c,d,e needs to only contain 3 lesser degree waves.

WMT however had a descending triangle on a 6 years chart. Is the correction over? Not sure as the current little burst may just be a little pull back.

[lemonjello]

EM,

Got a take on when MFLX gets safe?

[EMphase]

Lemonjello, sorry I don't know. It's a falling knife. Next stop is probably 40.00$US.

GCO is doing nice. Spikefader, you got your signal today if the price stays above 43.00$US. Price is currently at 43.29$US.

[spikefader]

..GCO is doing nice. Spikefader, you got your signal today if the price stays above 43.00$US. Price is currently at 43.29$US.

Never fear spike's stalkin' is here
Still not ready for me. I seek perfection. Chart

[EMphase]

Update
On your graphic you are making it as an ascending triangle but imo it's a symmetrical triangle. Read the comments on the graphic below.

[spikefader]

Yep, qualifies as one of them too And the recent test of your top line coinciding with the 'c long' was a good support play. Were you watching it then? That's the area I'd react to a holler

[spikefader]

...Spikefader, you got your signal today if the price stays above 43.00$US. Price is currently at 43.29$US.

I see yesterday it did close over 43.00, so are you saying that's your signal, i.e. the trigger, to buy it? At the close?

Never fear spike's stalkin' is here
Still not ready for me. I seek perfection. Chart

OK, now it's ready for me. 2.5% or so cheaper......my risk only 0.63%.
Entry Chart
And if it stops out, I shall keep making these kind of plays until I nail it, the chart changes bias, or I lose interest and find better setups to stalk

[EMphase]

I'm not sure it's going to stop at 42.50$. It might go lower such as 42.00$ before going up again. I want to buy more shares again but I will wait for tomorrow I think.

[spikefader]

Yep, it takes my risk and I'm back to stalking.