I have 2700 or so as likely now. But the risk has increased for further downside. I remain long here, but won't hold if it turns against me.

This was a false 123 low breakout…
If this drops below 2350 then that will signal a large head and shoulders which can be seen on the weekly chart.

Well, first thing in the morning is often not the time to be entering positions, but I'm going to try long from here 2431. For me, the obvious short term down-side risk (3 gaps on the 2h chart) has been dealt with, the price also pierced, but didn't hold above the short term descending tl resistance (april 21st to today).

I have a final gap down to around 2480. Once that's out of the way, I'll be watching for long opportunities and a possible double bottom at 2435.

Thanks mate i really logged on to ask Remo his thoughts on this , i think you are right but if touch 3 breaks down then how low can it go. I hoping for the bounce though.

two downside gaps have come into play. The first to 2625 has closed. The second, that I think is likely to fill will see the price come off to 2545. That co-incides with the rising TL support from Mar 16th, Mar 27th and if it touches again it would be touch 3. That might represent a speculative enty if you assume price will bounce off the support.

This one has a 123 low break out today and its right at support from history so looks good. stops would have to be below support around 2400

target for short is around 2500,
This has broken a clear head and shoulder pattern. also channel breakout
Use tight stops above todays high

This ones currently at the top of the channel. Only worth going long if this can breakout past the 123 low formation at 1066. Otherwise ranged bound within channel. So one to watch


dl.dropboxusercontent.com/u/4899609/anglo3rdjuly2017.png

This one is getting close to its long term up trend line.
Im looking at going long on a first attempt of this trend line . So on my watch list.
Will be using a tight stop as well.


dl.dropboxusercontent.com/u/4899609/anglo28thfeb2017.png

Beat you to it! lol

I was just getting the chart ready to post when I saw yours Ronnie!

screencast.com/t/85OED8X0

Very close to resistance, possible 123 low breakout

Long legged doji right at support.
This is from this weeks share tips.


dl.dropboxusercontent.com/u/4899609/aal9thdec2014.png

Possible 123 low breakout...from share tips.

follw up chart

This is a free trade

Closed half and for the rest SL moved to above B/E

Long @1500
SL below 1464

Thanks for this one Remo, I have just left the party with a nice profit.

Hi woody
With any stop it has to go below a known support level.There is no point in placing a stop any where else.,
In the case of this share my stop is below 1505.
So my risk is 90 points so trade is adjusted to suit

dl.dropboxusercontent.com/u/4899609/aal9thmay2014.png
xWoody wrote:

Where does the stop go with a Cup & Handle?

Ive been long on this for a while now, but this looks like its getting ready for a real breakout.
Cup and handle formation.


dl.dropboxusercontent.com/u/4899609/aal8thmay2014.png

I had 1551 as a possible entry if the pivot failed. Thanks.

its pulled back a lot now...
My stops is below the nearest support so once that gets taken out then its a false breakout.
Ive got another order to open today at the gap fill which is 1551....
so risky but thats the game.
remo

Remo, with the AAL trade having pulled back from the break, do you still consider it a long trade? If it is still a runner, at what point would you classify it as a false breakout to the upside?

Makes absolute sense. I work on those principles. Just wondered if you'd entered on the gap. SMIN worked better with the initial break coming during trading hours. I closed on a limit at 1300 and am waiting to see what happens around here. I assume you're hoping for more from the SMIN trade?

Im long from the breakout point.
its a big stop but thats normal with large price shares . You have to lower your pounds per point.
for example...
Risk £200
if you normally traded £10 a point.....stop would be 20 points
then for this you maybe trading £2 a point.......stop would be 100 points.
so your rsik stays the same as any other trade.
so its not really hairy as you should be adjusting your risk accordingly....
This is where most people go wrong with trading i suspect. They keep the same trades with every thing.
You have to adjust and use the 2% rule.
hope that makes sense
remo
Shotry wrote:

Long from where Remo? The Break or were you in before the gap up today. That's a hairy stop if you've entered around 1590-1595

Im long on this
My stops are below the nearest support so thats below 1504. The stop distance is far for this share so positions should be adjusted for risk reward.
Cup and handle formation breakout??? Hopefully


dl.dropboxusercontent.com/u/4899609/aal24thapril2014.png

Cup and Handle formation??


dl.dropboxusercontent.com/u/4899609/aal2ndapril2014.png

Long today @ 1516
SL below 1496

trendline bounce
hidden divergence on MACD
123 low breakout on 1H
HH and HL on todays candle

bounced off 1342 twice
1342 is also a previous high
Bullish engulfing candle

Long @ 1398
SL below 1342

Possible 123 low breakout.
From this weeks share tips so just a heads up.

Theres a good chance of a possible double bottom on this as well.

double bottom is at 1195

dl.dropboxusercontent.com/u/7238706/ANGLO%20AMERICAN.png

There is a chance - ok, it's a small chance - this is about to break the trend-line and head north....
Excuse the Elliott's: it's there for my benefit and I'm well aware it's open to dispute

This trade is only valid for today only.
At the end of today i will be cancelling the order .

This is filling the gap nicely
Im planning on going long at the gap fill(1579) and trend line(1576) on a first attempt basis.
since both are so close together ,there should be a natural support.
Im going to use a 30 point stop on this so as the stops are below the next support at 1555.
This is a first attempt trade.
This is a new trade . Ive already closed my positions from the other day as closed most of it near the resistance.



dl.dropboxusercontent.com/u/4899609/aal20thsept.png

There is risk attached to this trade due to the fact that it only bounced a few days ago. so be aware.

Nice move on this today...This should be a free trade now.


dl.dropboxusercontent.com/u/4899609/aal19thsept.png

Hi Remo,


Agreed, the chart attached doesn't have anything noteworthy to suggest the levels given.

Here's the link:


There's a table pointing towards supports and resistances, but even then, there's just a bit of info.

Personally, although I love the miners, I still can't get past not liking Anglo-American enough to trade it. I don't know why. I just get the feeling I'd get caught on the wrong side of a trade I suppose!

Off/Topic: I was actually thinking about city analysts the other day. Even if the institutions lost money through bad trades, so what right? Unless its a London Whale, it is pretty much business as usual. Worse case, the tax payer will bail them out if they wreck the bank!

Back to the original T/A - I'm just the messenger in this instance and to be fair, some T/A (such as UBS) is quite good


Regarding some of your buddies in the city, we might actually know a few in common (a couple in Swiss bank, one in a German one, and a couple for a Japanese one) - all useless as tits on a bull... nah, scrap that! Maybe a bit harsh!

Still, they all complain about struggling to pay their £18k per month mortgages on their second homes in London. Yeah, life's just not fair eh?

Libero wrote:
Hi libero
I cant see where they get there supports or resistances from????? totally lost
and there strategy seems flawed to me
They could miss out on a lot of trades. There must be a better reason for it.
This is another reason why i never trust institutional TA....
Ive got friends that work for top banks and the way they get there people is based on exam results.Not through experience...lol...They also go for a lot of students from top uni.
Its a shame i cant name these firms (dont want to get my friends in trouble) needless to say some of them are investment managers from the top companies.
The point of the above is actually not related to the thread......It seems nowadays firms would rather go for students over experience.

Thanks mate for that...its always good to have other view points. It would have been nice if they explained themselves a bit. Im still lost....Does anyone else have any ideas about there levels...???
I may be missing things

Hi Ronnie,

Whilst checking out some Covered Warrants, I noted Soc Gen's take on A-A:

STRATEGY
Below 1780.65 p GBP ANGLO AMERICAN is evolving toward 1449.62 p GBP over the short term. The clearing of 1780.65 p GBP would invalidate this opinion and open the door for 1827.94 p GBP.

SUMMARY
The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. Powerful indicators like the RSI, are not giving us any particular indications in the short term. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The stock is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this stock is reliable in the medium term. The first buy levels are on the supports situated at 1449.62 p GBP, then at 1402.33 p GBP; only the resistances, placed at 1733.36 p GBP, then at 1780.65 p GBP, could contain the prices.

I'm firmly on the fence with this one!

This is right near the trend-line, will it bounce?




dl.dropboxusercontent.com/u/4899609/anglo17thsept.png

Looks like my last chart was a little presumptious: what I was calling a possible wave 1 and 2 turn out to be a completion of waves iv and v and there's no guarantee this is the bottom.....so, wait and see and stop guessing
One ray of sunshine - divergence on the RSI

Having looked a little closer I see the low of 2/5/13 was a little lower than 18/4/13 ..... just; so this chart shows one possibility for coding the recent wave. Let's see what happens next week regarding the possible trade??

Ha! Ha! Well, it sure didn't bounce today

Sorry buys: been a bit busy all morning. Here's the chart....



I thought it had promise.....

yup - cant see my response to diver's post - looks a good setup though. hopefully diver will repost it.

Libero wrote:
Hi libero
I tried to move the post into this thread as it was posted in the wrong section and in doing so my connection dropped and I seem to have lost the post. I've been trying to find it but seem to have lost it.
I'm hoping that diver re-post it. If your reading this mate sorry for losing your post any chance you could re-post this.
Thanks for bringing this up.

Hi Remo,

This might be a site related issue, but I thought I'd mention it here in case anyone else noticed it too...

Last night I saw an excellent chart posted by Diver on AAL. It seems to have totally disappeared this morning though.

A 'trail' still shows hints of the posts (I think WaveRider might have posted soon after) - both these posts have vanished.

Is the site undergoing any archiving or maintenance going on?

Cheers!

dl.dropboxusercontent.com/u/20815047/AALdaily19_04_13.gif

Gapped up from 1540 support (this was from ages ago) on a bullish divergence and a short term RSI breakout. Could be worth a long at the 1562p gap with a stop below 1540p