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TOPIC: SXX Approaching 123 Low Breakout

SXX Approaching 123 Low Breakout 23 May 2014 16:48 #1

  • Count
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Was looking ok earlier on today, but was a disappointing close. Oh well, guess we'll have to wait to see where we open on Tuesday after bank holiday.

Have a good weekend all.
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SXX Approaching 123 Low Breakout 23 May 2014 06:29 #2

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Kumo breakout as well Count so lets wish for a push up today


www.screencast.com/t/ptBC10r1q7ao
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SXX Approaching 123 Low Breakout 23 May 2014 01:35 #3

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Yes I agree SRB. There may be several influencing factors holding this back atm including:
1. Project planning approval not yet given, (expected in next few months but no firm date). I expect once approval is given this will really take off.
2. Other share action happening elsewhere drawing PI attention, eg GKP, XEL, TPET
3. The large rise in SP of 21st pushed RSI >70 so today was cooling a bit prior to next push up ')

It is still possible that this can complete the 123 low but I am watching it closely with tight stop in place.
I hope this moves upward again today with decent volume.

ATB
Last Edit: 23 May 2014 01:46 by Count.
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SXX Approaching 123 Low Breakout 22 May 2014 12:05 #4

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Not liking the book at the mo and although were showing high bid volume the blocker orders at 12.50 and the large sells going through are causing the lack of oompfff that we need to propel this upwards, need to watch this over the next few sessions.


www.screencast.com/t/4w3N68Gx
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SXX Approaching 123 Low Breakout 21 May 2014 15:43 #5

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Well done Count, having traded sxx before and with planning news looming June/July I would expect the MM's to make a move on this very shortly and this breakout if confirmed tonight might be the start of something a tad better than 14.50. I'm not wanting to try and change your trading strategy as Im all for taking a profit but a keen eye and a rising stop loss might be the trade here, well that's what Im going for as 20/25 would not be such a far off target especially if the volumes pick up, anyway tight lines.

SRB
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SXX Approaching 123 Low Breakout 21 May 2014 13:40 #6

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Break out this morning. I'd bought some previously at 11.6 so just sold half of them at 12.55p, letting the other half ride to see if it reaches 123 low target of 14.5p. May sell sooner though depending on how strong or weak it looks. Learn't from previous mistakes that it's best to sell sooner and take profit rather than trying to be too greedy and ride it too long and get 'locked out' when significant selling begins.
Thanks for original heads up on this SRB ;)
Last Edit: 21 May 2014 13:45 by Count.
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SXX Approaching 123 Low Breakout 13 May 2014 21:42 #7

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Thanks SRB.
I think I may have a punt at 1= 12.25 if 2= 10 (tbc on passing 12.25) then I will target 14.5p, nice 18% rise would be welcome.
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SXX Approaching 123 Low Breakout 13 May 2014 11:18 #8

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To keep an eye on ;

Not sure yet if I'm targeting the high of the 07/05 at 12.25 or the high of the 08/05 at 11.68 as the top of wave 1 and the breakout point, not made my mind up if I like the long legged wick of the 7th yet, current sp 11.25


www.screencast.com/t/gHPkzHqN2Ri
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