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TOPIC: WEIR bounced

WEIR bounced 17 Dec 2012 11:48 #1

  • remo
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Ive got my long entry at 1774 for today as thats where the trend line is currently.
Im hoping that the trend line will be tested in the next few day so i can do my first touch basis trade on this again.
Ill be using a 10 point stop as if it does breakout through the trend line then it could signal a correction.



DYOR
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WEIR bounced 11 Dec 2012 10:53 #2

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Im looking to go long if this test that trend line again in the future at 1761.
So one to watch again.


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WEIR bounced 06 Nov 2012 22:27 #3

  • waverider2
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cheers remo....good thread.
Wish I spotted this earlier as Weir is a nice high beta share to trade
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WEIR bounced 06 Nov 2012 22:24 #4

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The moving averages i was using was 50 sma and 200sma. So a golden cross. This crossed on the 31st october. This happened a few days ago. I did mention this when it was happening. If you follow this thread back you will see me talking about it.

The 50EMA and 200EMA crossed on the 9th october. shows the difference between the 2.

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WEIR bounced 06 Nov 2012 21:49 #5

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REMO - What MA's are you using on the charts? was there a golden cross about 6 trading days ago?

cheers
a.k.a ridethewave2
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WEIR bounced 06 Nov 2012 16:24 #6

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Ive added to my long on this on the back test of down trend line breach.
My stops are below 1800

dyor
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WEIR bounced 31 Oct 2012 14:48 #7

  • Shotry
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I did. I think I got something like 1796 or so. The other thing I noticed was the trend on the RSI on the daily chart. Hope you can see it here. Once it approached that level I took the profit. I was thinking the target could have been as high as 1830, but didn't want to be greedy. I didn't short it (although it crossed my mind)as I'm committed reasonably heavily elsewhere. Nice trade. All in all so thanks to whoever it was that posted it.

screencast.com/t/mO3b7vxJ
All it takes for the triumph of evil, is the silence of 'good men'
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WEIR bounced 31 Oct 2012 14:39 #8

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Hi Shotry

Did you sell as it approached 1800? When it hit this mark - a nice round figure - it also hit the descending line for the daily RSi. I have shorted this 1787 with a stop just over at 1805 with a target of 100 points - just before it hits the rising support. It may be stuck in a triangle. It has moved in my favour, currently 1776, although I might yet be wrong.
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WEIR bounced 29 Oct 2012 10:42 #9

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weir just filled the gap and bounced real quickly.
I was lucky enough to have an order near the gap to go long. Well not luck.

dl.dropbox.com/u/4899609/weir29thoct.png





weir29thoct.png
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WEIR bounced 26 Oct 2012 22:28 #10

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Hi

Just looked at this on iii charts. The daily RSi is falling - might a sell be best executed when the RSI hits the falling trendline? I have not traded this but might try a short when that happens especially if it coincides with a particular touch of a level like 1780/90 or upper bollinger. I would then close the trade when the gap is touched (say 1709). Still looking and learning.
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WEIR bounced 26 Oct 2012 12:46 #11

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yep.Thats a good level to aim for
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WEIR bounced 26 Oct 2012 10:47 #12

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I've taken this one too, but only in a small way. I started with the stop around 1685 and have moved that up to 1695. I was looking at a target of 1800-1835. Does that sound reasonable to you guys?
All it takes for the triumph of evil, is the silence of 'good men'
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WEIR bounced 26 Oct 2012 10:43 #13

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Tell me about it...lol ;) ;) ;)
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Last Edit: 26 Oct 2012 10:43 by remo.
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WEIR bounced 26 Oct 2012 10:20 #14

  • Jackozy
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Nice :)

I'm running out of margin for all the good trades out there at the minute! :(
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WEIR bounced 26 Oct 2012 08:19 #15

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dl.dropbox.com/u/4899609/weir.png

This ones perfectly bounced of trend line support and horizontal support.
This gapped up nicely today.
This is almost at the golden cross(50ma crossing over the 200ma)


weir.png




im long on this but the stops is quite far away below the hammer.

So DYOR
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