WES the go ! HELP

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msparks

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Post Number: 459
Registered: 10-2004

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Friday, April 21, 2006 - 01:19 pm:

This chart knocked me out and now it is taking off.

Is it the TA thats not working or should i have held on ?

What is a good re-entry technique ?

Should i not look and move to another setup or trade ?

gohard

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Post Number: 398
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Friday, April 21, 2006 - 04:18 pm:

Afternoon msparks,
WES has been an old favourite in my watch list,not knowing your entry point I would see the possibility of the old stop loss being a contributor.
Looking in hindsight with notes 1&2 in the short term certainly it has gone through a trying period.The share has never been happy below the blue moving average which in this case is a 63 day EMA.At 2 it gave a false recovery on the S&R four days later it resumed it's journey with some consolidation another false break at 3 and it then plummeted to finally give us the strong candle at 4.It has continually tested the 36.44 value along the way as shown.
The strong volume as indicated is the only positive in a long line of volatility.
What made you sell.
Do you see it as shown
thanks for the opportunity to reply
Cheers G

WES

(Message edited by colin_twiggs on April 21, 2006)

Only $12 (USD) per month

msparks

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Friday, April 21, 2006 - 05:08 pm:

Hi Gohard
I will have to get one of those new fandangle wider screens if you keep replying to my posts , Ha Ha.

I gave it some time and some room and seems it was just a setup to trick me into selling and foregoing some cash.
The re - entry is not an easy thing but judging by the chart the opportunity was there with the strong candle from the lows.

The company is too solid FA wise to fall too far

, but thats another story and another lesson, like CDO.

I should have been more ruthless with my stop loss and more short term orientated when trying to enter these great whales of companies.
Maybe rack up 3 or 4 trades until it goes the way i want it too, very short term until it becomes a long term trade.

Then again, there were much better opportunities around so why play with something that can bite you on the .....(doh)

fibonacci

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Friday, April 21, 2006 - 08:13 pm:

msparks,

Nothing wrong with being stopped out because of various breeches of support ..BUT... what ensued was a good example of a BULL TRAP [renamed generically in recent years as a False Break].

So ...stop was O.K. but re-entry was strongly signalled by Bullish Engulfing candle which also strongly regained ground above that support.

WES

It's the psychology! What was initially a bearish scenario suddenly reversed. Usually, because of this strong change, the ensuing move in the opposite direction is significant.

John

You've got to
know when to hold 'em
know when to fold 'em.

msparks

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Thursday, May 04, 2006 - 09:00 pm:

mmmh
Back to where i sold, am i a clever chappy or will it hold for a while and go higher or crash down to the $30 great buy zone.

Probably bounce some tomorrow but certainly not an inviting chart at all in my view.
200 ma in play too.
Anyone game to call the future on this one ?
Great long termer if picked up at the next support line around $30 bucks.At the moment it seems to be in no mans land, but cheaper here than at the $38 breakout point,dividend and cash would not allow it fall to much more,mark my words,said the old timer

ohkoolnutz

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Tuesday, October 17, 2006 - 10:20 pm:

Most of my successes occur when I look at a chart and my mind instantaneously says: It stopped going down.

I had such moment in the evening of October 10. WES retraced on October 9. On October 10 it opened and traded above the previous day's close. The trendlines don't allow much room for further consolidation.

Strong buyers came in this afternoon.

It has failed three times to surpass the MA. Can it do it on the fourth try?

---
ohk

Lies, Damn Lies and Technical Analysis

ohkoolnutz

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Monday, December 11, 2006 - 03:34 pm:

I still like WES.

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ohk

Lies, Damn Lies and Technical Analysis

hershy

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Thursday, December 14, 2006 - 07:56 pm:

Hope you bought some OHK !.

I don't have a plan so nothing can go wrong !!!

http://members.optusnet.com.au/~hershy/

ohkoolnutz

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Thursday, December 14, 2006 - 09:02 pm:

I did buy on October 11. I diverted from my trading plan which usually is a stop loss within 2%. I did because I had a gut feeling. I tend to be early a lot.

After my plan failed I knew I was right about WES but that it was going to finish the right shoulder before advancing. So I waited for the shoulder to occur. I was in a bind because I also had to go on holidays. The low of the right shoulder occurred four days before my holiday. I put a stop loss underneath. When I came back five weeks later and we were looking at breakeven I was 99% sure I was right. I wanted to double up. I didn't because I found keeping my trading size in accordance to my portfolio exposure more important than making a quick buck.

QBE went up big today and bigger than WES. I have to be honest. I'd rather be in WES which should have much more upside left.

I have no profit target because I don't believe there is anything holding it back now. If you zoom out we had 18 months of churn with 12 months of tight ranging and there is clear blue sky above us.

In this picture I marked my failed strategy which was October 10. Destiny is a strange thing. If I had not misentered this stock on October 10 I would have missed this trade because the true entry day was December 5. I like to enter on extremely tight days and preferably red days which have an overextension to the north. I was on the road and unable to execute any trade on December 5.

+++ png +++ 969282 +++ +++
You can't add a picture to a post later on even if it was uploaded separately.

(Message edited by ohkoolnutz on December 14, 2006)

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ohk

Lies, Damn Lies and Technical Analysis

ohkoolnutz

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Thursday, December 14, 2006 - 09:12 pm:

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ohk

Lies, Damn Lies and Technical Analysis

ohkoolnutz

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Friday, January 12, 2007 - 10:35 pm:

WES is slowly moving up.

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ohk

Lies, Damn Lies and Technical Analysis

tryhay

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Wednesday, January 07, 2009 - 08:33 pm:

Something about this chart looks familiar:

WES Daily Chart: That 50D_MA has been busted & may just keep going up before retest ~ bit more volume would be great..

wes

On another matter:

Taken from From_PSA alert ..... astrostuff update ..... ... <http://forum.incrediblecharts.com/messages/8/1390657.html#post143810>

captain_chaza wrote on Wednesday, January 07, 2009 - 08:37 pm:
What's the problem?

Have you grown a "Beak and Feathers?"

Not very likely CC. Too much going on and not enough time to give to everything ~ actually quite a few regulars look to be missing in action. Good to see you are holding your end up CC.....

Have been on holidays (actually working at my nephew's house) and wanted a break from all other distractions (glad to have stage one over with ~ fit out with PC items comes later).

Tempted to buy into WES tomorrow ~ price action and volume look inviting...

Happy trading DYOR

moleman

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Thursday, January 08, 2009 - 07:30 pm:

Hi Tryhay

Yep I'm missing. After 2008 I had to go get a real job! With WES, long term TMF doesn't look too inviting and TradeGuider is saying selling pressure with the red triangles indicating not too much demand over $20. And they do have a whole heap of debt... Can't see this taking off.

cheers

MM

tryhay

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Thursday, January 08, 2009 - 07:51 pm:

Hi MM

moleman wrote on Thursday, January 08, 2009 - 08:30 pm:
Yep I'm missing

Great to see you still hanging around, but sorry you had to get a real job, like the rest of us! Well if WES is not a long then it must be a short ~ geeze that Tradeguider looks a handy little gadget: Suggests drift sideways or retrace - unless higher volume is sustained on the uptick, but given the Dow Jones tanked last night and the futures are down ~ 14 we might be forming a right shoulder on the inverse H&S formation on the Dow/SPX ~ no need to buy in just yet ~ particularly with "all that debt".

WES Daily chart: What I like is the daily and weekly MACD have/are crossing and longer term Slow Sto turning +ve ~ so I guess WES is looks set for retrace (to sort the 50 D_MA out) and then long time IMO - until the next retrace.....

wes