KYS

Hi Longterm view
sorry for the delay in writing as been busy chopping tree down in the garden....The weather bought down a tree onto the garden shed..Its an old shed so done me a favour..lol

any way..
Id normally try and catch a breakout by placing an order to go long above the highest point. Depending on share price if its a low price then 1 point ,if its a high share price then 5 points above the high.
In this share the best place would have been the back test on friday at 36 but that would be hindsight trading..lol
Now that this has broken out past the highest point its best to wait for a back test at 38.6 where id go long with a stop below 35. There is risk attached to a back test trade as some times the price just runs away and you end up missing a trade. But i wont chase a share as theres always a risk of getting impaled.
This broke out of the trading range so my target for this would be roughly 11 points so look to target 47 roughly.




dl.dropboxusercontent.com/u/4899609/kys28thoct.png

longterm_view wrote: Remo,

Just a quick question on breakouts please.

Since KYS has broken past 36 and 38.6 do you wait for a re-test of 38.6? or do you buy at 4.30 just before the close, at around 41/41?

Learning from the past, you would probably say, the breakout will give the best risk/reward. But you run the risk of missing out, if it continues.

The RSI is overbought(daily), but the MACD is still rising.

It has been such a strong rise, without a retrace, that's why i closed at 36.

It always the way, i start trading, bail at resistance and it goes straight through.

Many thanks in advance.[/quote]

Remo,

Just a quick question on breakouts please.

Since KYS has broken past 36 and 38.6 do you wait for a re-test of 38.6? or do you buy at 4.30 just before the close, at around 41/41?

Learning from the past, you would probably say, the breakout will give the best risk/reward. But you run the risk of missing out, if it continues.

The RSI is overbought(daily), but the MACD is still rising.

It has been such a strong rise, without a retrace, that's why i closed at 36.

It always the way, i start trading, bail at resistance and it goes straight through.

Many thanks in advance.

Remo,

Many thanks for the reply.

Is this classed as a trading range? 24.75 – 36 = 11.25.

In the past, trading ranges seems to have many touches, so if this is, it may be a weak one?

Just trying to work out a target if it breaks and closes above 38.6.

Many thanks in advance.

Technically not the best place to go long on this.This is near major resistance(36).This has been in a sideways market since 2011. This is currently near the top of the range. For strength to come this has to finish above 36 but id prefer if this finishes above 38.6.Then this would open up higher prices.
support...30,,26.7,,24.7
resistance....36,,,38.6


dl.dropboxusercontent.com/u/4899609/kys24thoct.png

IG still not allowing a chart save, anyway, a screen shot of KYS.

dl.dropboxusercontent.com/u/21384991/Scr...%20at%2010.37.50.png

After recently selling, I was looking to re-enter at the 38.2% fib and downtrend line (not tested yet). Around 32.3.

Any views on KYS please.

Looking to place a few trades again. Been a bit busy recently, got a dog!

Here you go: