Forum Archive Index - May 2002

[Phyllis Bergquist <phyl@clear.net.nz>]

Hello Andrew,
May I ask whether you use Closing prices or Highs and Lows for yr Fib
levels.    TVM   Phyllis.
----- Original Message -----
From: "andrew cottingham" <arco@adinfinitum.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, May 15, 2002 1:57 PM
Subject: Re: [sharechat] FBU Chart


> Phaedrus, - may I add to that some candle comments.
> The candle of 8th and 9th May formed an Harami Cross - very bullish.
> The candle of the 9th  formed with the other 2 -  a Morning Doji Star
> formation,
> and for more confirmation the  3rd candle  formed a Bullish Engulfing
> Pattern against the Doji.
> 3 candles - 3 patterns all with the same bullish theme.
> All this was also supported by Fib point 50%
> Andrew
>
>
> ----- Original Message -----
> From: Phaedrus <Phaedrus@techemail.com>
> To: <Sharechat@sharechat.co.nz>
> Sent: Wednesday, May 15, 2002 1:25 PM
> Subject: [sharechat] FBU Chart
>
>
> > Close examination of the attached chart shows the following
> characteristics :-
> > (1) Broadly speaking, the RSI gives very good signals with this stock.
> > (2) There are often multiple signals.
> > (3) If there are multiple signals, the later ones tend to be better.
> >
> > Conclusions :-
> > (1) The RSI signals are worth acting on.
> > (2) Since you don't know if there will be multiple signals, you must act
> on the first.
> > (3) Should the first signal "fail", any subsequent signals should be
acted
> on.
> >
> > My actual transactions here are :-
> > Bought 5/4/02 at 281. Sold 8/5/02 at 269. A loss of 12 cents.
> > Bought 9/5/02 at 270. Current price 292. Current gain 22 cents.
> > Financially, my situation is almost exactly the same as it would have
been
> had my stoploss not taken me out. The big difference is this. Had FBU
> continued falling, it would not have taken me with it.
> >
> > The "failure" of my trade of 5/4/02 could have taught me :-
> > (1) I should not have bought on the RSI signal
> > (2) I used the "wrong" support level (274 instead of 269)
> > (3) My stoploss was too tight or,
> > (4) I should not have used a stoploss.
> > None of these are supportable, and would not be good lessons to learn.
You
> must be true to your system - win or lose.
> >
> >                  Phaedrus.
> >
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