Barc

Hi jackozy
For me there are a few possibility with barc. This is in a trading range from 250-312 and im planning on going long at 250 area on a first attempt basis.

This area is important as a break of this area and it gives a sell signal and the head and shoulders comes into play. So my long entry at 250 will have a tight stop attached to this. If 250 does break then this will find support at 234 which is strong support.This level goes back a long way,as far back as 2008


1. So keep an eye out for the head and shoulders formation.
2. Keep an eye out for the trading range


for me sideways shares should be avoided unless the price comes to a significant level(bottom of range or top of range). any where else has to much risk attached.

Your chart looks to have errors in so id be extra careful. Obviously it would be nice if someone with updata could verify. Just look at where jackozy chart has a breakout of the head and shoulder formation.
hope my chart is clear

Thanks Diver. I think we have some serious data discrepancies between our charts though so not sure which to believe.

Remo: any view on this?

TIA

dl.dropboxusercontent.com/u/7238706/BARCLAYS.png

Jacko, this is just a possible, in which case 261, or thereabouts, will be significant.

Diver

Anyone got a view on BARC? It's approaching an area of support from a previous significant price high at 259.95p and there's also a gap support at 262p so a possible long at 262 with stop below 259.95p. Balanced against that is the possible H&S breakdown giving a possible short entry on a backtest of that neckline at c. 273p. Here's the chart - could be a good deabte on trading strategies on this one:



dl.dropboxusercontent.com/u/20815047/FTS...ARCdaily23_09_13.png

good call. Maybe worth a long now, looks like some support in this area.

Gap is about to close here. Might be a good place to short