Using TA to time entries and exits

[Baa_Baa]

[...] However if one is compelled by greed and must buy in, technically speaking yesterday and today AIR is showing it's "best" form since the start of the fall..still a very risky play for the inexperienced [...]

Illustrating the risks and opportunity:

Daily chart log scale. Two days up isn't a trend, though for the emboldened, an open and close day breakout on Friday from the very steep descending trend line, will be encouraging. If the SP continues up now with higher highs and higher lows, one can gauge the timing and risks of entry to suit their tolerances.

Attachment 8075

Weekly chart log scale. The long tailed red candle indicates the possible reversion from bears to bulls in control. The precise reason for support at $2.02 is unclear except being around the 50% not-a-fib retrace of the 4-year bull trend(!) and approaching round number support at $2.00.
Attachment 8074

Whether this is a splat cat bounce or not remains to be seen. Any entry around the current SP could be complemented by very tight stops adjusted upwards as/if the price continues up.

DYOR, JMHO.

[Xerof]

IMG_0200.jpg

I bought AIR this morning, after much internal debate over price action. Whilst the 'pin bar' to 2.02 showed no rejection on the day, 2.02 was hit on the close of the session. Next day provided good support and if I combine two days trading, I get my pin-bar. So I waited an extra day to confirm the strength of buying, which was confirmed by Friday close.

[Hoop]

got partially in yesterday ...

[Beagle]

got partially in yesterday ...

Seems the splat cat's (dog's ?), tail is about to wag.

[Hoop]

Seems the splat cat's (dog's ?), tail is about to wag.

Hmmm...hope so as I filled the rest of my order on this lunchtime rally breather..a lot higher than I wanted to be..

It's a worry the rally petered out today on the $2.30 (2 year old resistance) and also the $2.31 (23.6% Fib)..the Fibs are in play as this rally is instinct buying behaviour off a big drop..

If AIR stops at $2.31 it will be a TA disappointment...AIR is technically a Bear so beware of sucker rallies and DCB's...DCB average a 30% rise ($2.65) or Fib 61.8% ($2.79)..IMHO..$2.79 seems a bridge too far at the moment as there is strong resistance at $2.70..
However AIR has to get passed $2.30 first .. then a minor resistance at $2.40... and the big hurdle resistance line at 2.50 also containing the 38.2% Fib ($2.49) (psychological)..

Interesting longer term about Virgin..if some realised value is returned to the shareholder it could reinforce the bear cycle as the shareprice will fall back at ex -div

[Baa_Baa]

The gap open Tuesday and shooting star daily candle suggests reversal. Watch for a lower open as a sell trigger, or tight stops.

[cyclist]

Hmmm...hope so as I filled the rest of my order on this lunchtime rally breather..

First time I have ever seen you using hope as a strategy Hoop

[Hoop]

First time I have ever seen you using hope as a strategy Hoop

Hmmm.....my effects from recent mistimed buy ins........same type of hope as calling on divine powers to get your golf ball into the hole from one metre away when suffering the putting yips.

The gap open Tuesday and shooting star daily candle suggests reversal. Watch for a lower open as a sell trigger, or tight stops.

A bit ahead of yourself aren't you BaaBaa??..One only knows it's a shooting star after the following day... a bit like shutting the stable door after the horses have bolted...eh? A couple of hours into trading shows it's not a shooting star..

However, it's close to a gravestone and I hate them about as much as shooting stars..although I'm learn't not to be a daily candlestick watcher..
Like every other indicator, they should only be used as confirmation...That means using more than one (preferably 5 or 6) for decision making

Even though AIR got to a high of 229 up +4c earlier today, the technicals looked even then to be weakening..however remember...the short term indicators can swing around in a matter of hours or minutes..Air is in it's cyclical behavioural best at the moment...Volatile!!...that makes it a dangerous stock to play with...currently flat at 2.25

[Hoop]

now swinging down ....2.24c down 1c

Live daily chart ...so refer back to this post as the chart refreshes every 20 minutes

[Baa_Baa]

... A bit ahead of yourself aren't you BaaBaa??..One only knows it's a shooting star after the following day... a bit like shutting the stable door after the horses have bolted...eh? A couple of hours into trading shows it's not a shooting star..
...

Tuesday's candle by itself looks to me to be a shooting star candle on a gap up, I agree though that the reversal would have been signalled by a lower open today, which didn't happen. Nevertheless the reversal seems to trying its best to be in play at this moment in time. 2:12pm