StockFetcher Forums · General Discussion · VCI<< >>Post Follow-up
fokane
74 posts
msg #56673
Ignore fokane
11/11/2007 2:18:43 PM



SFMc01
272 posts
msg #56691
Ignore SFMc01
11/12/2007 8:33:13 AM

focane: Respectfully, why was this posted?

johnpaulca
10,080 posts
msg #56694
Ignore johnpaulca
11/12/2007 10:17:32 AM

nice looking setup Fokane...thanks

fokane
74 posts
msg #56699
Ignore fokane
11/12/2007 2:14:58 PM

i thought i would share it.


five40
23 posts
msg #56720
Ignore five40
11/13/2007 3:01:14 PM

Can you help a newbie out and please explain the pattern here? Also, what is the setup, where are entering, what potential do you see.

Thanks!

fokane
74 posts
msg #56748
Ignore fokane
11/14/2007 3:42:34 PM

five40: I'm a newbie too :-)
I'm not sure how much you know about support/resistance etc. so you might already know this but what i did was just draw two resistance lines on the chart as i saw them.
What i found interesting on this chart was the high wick on the gap up candle which showed the potential to get to the upper resistance line. So any breakout could get up there,i thought.
Even if there was a break to the downside i could turn and go short because it could fade the gap as happens alot. Either way seemed to be good risk:reward ratio to me.
The other interesting point is the huge volume on the gap up and following days compared with the low volume on the down day which i guess biased it for a break to the upside.
Maybe other people have thoughts on this setup?

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