EBay
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     hershy
Member
Username: hershy
Post Number: 1644
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Sunday, November 05, 2006 - 09:43 am: |  
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Within a downwards moving channel EBay has formed an inverted H & S pattern but has not followed through and is heading towards channel top. A complex H & S may still occur but the target is impossible as the pattern hight of $26 is more than the shares would be at the shoulder line. That would indicate a minus level which is of course, impossible.
The channel, in reality a descending wedge, is more conducive to upside breaks but should channel support fail, what are the odds of a price drop to the sub $16 levels which has seen more volume that any other level ?
It must be noted that the last low is around extremely strong support levels and a sub channel breakdown is unlikely. Nevertheless, a bounce back from $35 could be a rewarding short towards $23.
.
I don't have a plan so nothing can go wrong !!!
http://members.optusnet.com.au/~hershy/
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peter1
Member
Username: peter1
Post Number: 127
Registered: 12-2005Rating: N/A
Votes: 0
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| | Sunday, November 05, 2006 - 12:27 pm: |
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hershy: I can see that you are really enjoying these US charts. Isn't it great to be able to trade the world.
EBAY. That has got to be the wobbliest H+S I have ever seen. I would be very happy to BUY the break of your falling resistence line providing there was some indicator confirmation.
As you have stated before, different opinions make a market.
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hershy
Member
Username: hershy
Post Number: 1649
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Monday, November 06, 2006 - 06:55 pm: |
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With IG Markets CFds I can trade US shares for 8 cents round trip. With volatility not often seen in Aussie shares, what could be more exciting and with proper money management, rewarding to boot.Yes Peter1, I do like the US markets. As far as EBay is concerned, it seems I have not explained myself very clearly. I was trying to say that it was unlikely the H & S will work but a bounce off channel top to channel bottom, i.e shoulder line could be very profitable. But wait for the bounce.
I don't have a plan so nothing can go wrong !!!
http://members.optusnet.com.au/~hershy/
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hershy
Member
Username: hershy
Post Number: 1655
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Wednesday, November 08, 2006 - 05:51 am: |
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Went short during the night @ $32.50.
Plan is for a short trade, hopefully riding the price down to around $31.19. Might stick around for a bit longer if it's a short ride with strong momentum. Stop loss set at double top.
I don't have a plan so nothing can go wrong !!!
http://members.optusnet.com.au/~hershy/
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hershy
Member
Username: hershy
Post Number: 1671
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Wednesday, November 15, 2006 - 05:49 am: |
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Got stopped out two nights ago, stop loss too close to resistance, should have placed it above, not on the dotted line. Range last night is the smallest on the chart so explosive move could be around the corner.the break. There are similarities in the present consolidation zone and the one on the left of the chart; that one broke downward. Here, money flow has just turned up while on the previous occasion it was heading down so it will be interesting to see the direction of
I don't have a plan so nothing can go wrong !!!
http://members.optusnet.com.au/~hershy/
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efficiency
Member
Username: efficiency
Post Number: 43
Registered: 12-2002
Rating: N/A
Votes: 0
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| | Monday, June 04, 2007 - 03:09 pm: |
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$32.50 to $31.19? You were playing for a $1.30?
Present 20 day average true range is 80 cents. Hence a day and a half of movement. Or shall we say "noise" on average daily volume is 17 million. More excited about a commission rate than a risk/reward ratio? Might consider a psychology thread rather than 1800 posts.
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