123 low breakout. stops below 2


dl.dropboxusercontent.com/u/4899609/arm21stnov2014.png

Fighting with resistance..

Near resistance, one to watch..

From this weeks share tips.

Thanks for this tip Remo - I'm delighted that it worked perfectly! I even managed to work out resistance (and acted upon it!!) and now have a few free shares to boot!!!

Happy days!!

Anne

Profits should be taken at this point as its hit resistance.
The rest can be left for a free trade if you want but me personally are closing whole position as this area has a few resistances near by so may get a pull back from here maybe towards the 200 ma.


dl.dropboxusercontent.com/u/4899609/arm28thaugust2014.png

Fighting resistance, look out for possible 123 low breakout..

Jumped out banking a nice profit, due to large rise today and resistance a few points ahead.

Just wondering, if this was to go on and break resistance, would anyone jump back in at that point? or once out, stay out? or given that this is now a free trade, would people just let it run?

On the last of those, I'm a little bit reluctant to just let things run, as too often recently it's turned and wipe out most of my profits.

Just trying to get an idea for how people play these things...

Cheers
Woody

No worries xWoody, that's what we are all here for working together and learning!

As its gone up a fair bit, I would take profit and move the stop loss to break even so that way you don't lose anything and it should be a free trade

Thanks for the tip ronnie, and nice to know you have the same initial target as me (I must be learning something!)

Just one question... would you move your stop up to below today's low, to reduce risk at this point? 842 is a fair way away...

Cheers
Woody

P.S. Hey MFB, nice to know you're on board this one mate!

First resistance area is 922 that is the area you should look to take profit.

After that it should be a free trade as a true 123 low means the price could go a lot higher.

Thankyou for this one, I have had a little nibble, doing well today.

On one like this, I guess its important to see it become a free trade, then look for resistance, which for me could be around 990.

Would appreciate your thoughts?

Possible 123 low breakout.


dl.dropboxusercontent.com/u/4899609/arm220514.png


www.dropbox.com/s/t1cqwvk8q4jut9j/Screen...05-22%2011.49.20.png

Possible 123 low formation..one to watch


dl.dropboxusercontent.com/u/4899609/arm21stmay2014.png

This filled the gap perfectly today and seems to have bounced.


dl.dropboxusercontent.com/u/4899609/arm13thnov.png

Gapped up today, approaching trend-line, one to watch.

Long today @ 968
SL below gap @ 944

This played out nicely on a first attempt basis but has since broken through.
So a good day trade initially. Thats the benefit of a first attempt trade and why avoid a second attempt a few days latter.
Now im short on this and have my stops a bit wider and its above 850.


dl.dropboxusercontent.com/u/4899609/arm17thjune.png

This is from the share tips section from 10th June, touched trend-line yesterday and gapped up today however finding it hard to get past the gap resistance.

Thanks guys. I agree that this is likely just a consolidation in the uptrend and that 766p could be a step too far. The nearest uptrend support is at 811.69 today, the 38 Fib at 807 and there's a support at 816 so that area would be my place to go long too.

PS Sometimes a break helps you see things in a different light. Also, as you can see from the charts I posted last night, I'm currently working through compiling a library of (initially) FTSE100 charts in alphabetical order. This is something I should have done years ago.

If this is an impulse wave, and this is a wave (( iv )) , then I would expect this to retrace to the 38.2% fib as shown on the chart. This would need a 100% extension of wave ( a ) or, if it is make the gap, then a 123.60% extension. Either way the bounce back above 814 should signal a good long opportunity for wave (( v )).

Good to see you posting again Jacko:)

Jack,
Good to see you back here...hope you are well my friend.

ARM - I have been watching this for some time and IMHO this is still on the bullish track, and the recent correction is a continuation pattern. Here is why I think so:

- there was a recent failure in the H&S pattern
- the sp is hovering in the 38% fib line of the recent breakout (650p) and the recent high (975 or near that) which you have clearly marked below.
- there was 4 days of support on this 959 number....

Not withstanding the possible market correction (I am trying to detach any other forces here), then I think this is a continuation pattern and we should see the downtrend line broken in the next coming days.

PS>>

I like the AAL charts. pretty old supports heh? and risk reward at the moment is very appealing. I like to go long if the trend line is broken. There is also a gap so that could be a good place to go long.

All the best and good to see you back here.

dl.dropboxusercontent.com/u/20815047/ARMdaily19_04_13.gif

Friday formed a hammer at this 859p support but it's not the first time at this support so it may be a bull trap despite the slight bullish RSI divergence. Perhaps a short at 903 trendline might target the first gap at 766. There are others below that too. Long on a close above that same trendline.

Similar movements to the FTSE IIRC too.

Comments welcommen

dl.dropbox.com/u/4385922/ARM0505.png

This eventually went through the trendline and even back tested it which was the warning of lower prices to follow. See how the price drops once a trend line is broken .
Also when it revisits a trendline a few days apart also is a warning that it may be getting ready to breakout ,hense why i always say first attempt only
This is now in a correction phase so look to the fibs for support.
Obviously the primary trend is still up but the trend that was in play since october last year has broken. Theres always more than 1 trend in play so bear that in mind.You get primary and secondary and even more depending on your time frames.
Im a short term trader so from my charts you could see normally loads of trends drawn.

Power of a good trend line. see how this bounced on first attempt.... Obviously the risk are now higher if it goes back to the trend line.

This is currently on the short term trend line since october. It should bounce on first attempt but if it does go through and finishes below then this could signal a short term correction.

If this finishes below 917 then worth the short with a stop above the high of yesterday at 930 if trade gets activated.
The reason being ,
The island formation the other day,
The possible 123 high????,
or an ABC correction, so we only had the A correction so this rally may be B wave and C wave to come still so hense why i would short if it finishes below the previous day low with stops above the high of yesterday.




dyor

This one has gone up quite a lot so a correction is likely. Look to the fibs for support.
The island formation is rare so if it finishes the day like this then likely be lower prices.
Obviously the days young and things can change by the end of the day.

This gapped down this morning but noticed it has a shooting star followed by an island formation, could this be a possible top?