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Trade Trends with Bollonger Bands and Twiggs Money Flow

PZC new thread

Chart Forum » Stocks - ASX: short term (strictly TA) » Archive through October 14, 2010 » PZC new thread

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Top 300espresso12-Mar-10  06:32 pm
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ivor
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Username: ivor

Post Number: 354
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Saturday, January 23, 2010 - 09:00 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hello Dolphin,

Have started a new thread for PZC.
As I understand TAZ, share is in the set up phase at present,and needs to trade above.047c on Monday to show a buy signal. Preferably with an increase in Volume to go with it.

Have marked a previous TAZ buy signal as well.

Have I got it right ?

Regards
Ivor




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palace
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Saturday, January 23, 2010 - 09:28 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hi ivor

although,as you and dolphin say, technically it needs to

trade over 4.7 ,but i have found that 5 cents can be a

stumbling block for the pennie shares ,so my thoughts are to

wait for it to be breached ,but each to his own and 4.8 to

5 cents could be a nice little earner

cheers
mick btw thanks for the heads up dolphin ,ex sams sea food so thats what probably drew your attention to it

(Message edited by palace on January 23, 2010)

(Message edited by palace on January 23, 2010)







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ivor
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Saturday, January 23, 2010 - 12:03 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hello Palace

Personally I think Friday's hammer is a buy signal now, with serious resistance at 5.5c.
Buy 4.6
Sell 5.5
Reward .9c Approx 19%

Not bad.
Share has sailed through 5c level twice before, hitting serious resistance around 5.5c.
But if buying in now would need a tight stop loss around 4.3 or so.

What do you think ?

Regards
Ivor




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palace
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Saturday, January 23, 2010 - 01:04 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hi ivor

imo you need to wait until 4.7 is cleared ,fridays high

and yes 5.5 ish has resistance ,but its still got to clear 5

cents.If monday has a high of 4.5 ,you need to wait for

4.6.at the very least

personally i would wait until close to the eod ,as you can get an

early morning price spike,of course you might miss the

boat ,depends how much a gamble you want to take

let us know what you do and good luck

mick


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hershy
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Saturday, January 23, 2010 - 01:34 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Ivor,

I don't know what your entry criteria would be.
In my post regarding ALK I hade the error of stating that I would go long at the price previous day's closing price.
That is evidently an error. Most gurus suggest going long one or 2 ticks above the previous day's high - if the shares trade that high. This to me seems to be a natural was to eliminate some losing entries but it does reduce the RRR. By doing that it may just show the risk too great for what reward is on offer resulting in the trade being passed over in favour of something else,
I don't know if this idea appeals to you and would be interested in your comments.

BTW, well done on NOD, it went just as you expected it to go. It will now be interesting to see if Nomad can keep it's upwards momentum following another nightmare on Wall Street.


Don't worry about what people think; they don't do it very often.
There is always one more imbecile than you counted on.

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

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ivor
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Saturday, January 23, 2010 - 06:05 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Hershy

Nightmare on Elm St (Wall St) seems to me to set up many buying opportunities, particularly if sitting with a lot of one's portfolio in cash.
My previous theory has been, buy on a falling market, sell on a rising market ?
Don't know about PZC, like to see 3 hits on the support line to validate. Not traded on the TAZ system as yet, but results look pretty good on paper trades. But my criticism of the system is - it seems to give away a lot of potential profits by waiting too long for verification in my opinion.

My current system for PZC would be to place a buying order at .045 (support line) after Friday's hammer signal, and wait for a day or two to see if it is filled.
Will probably do that. Like the chart, and particularly like to buy at support.If the share drops through the line, can sell with very little damage to the portfolio.

And here's my thing -
If I sell at a loss, I invariably sell a profitable share with it. That way there is no damage to the value of the portfolio.

In my view, this is paramount. Even if the portfolio marks time on the one spot, this is preferable to moving backwards.

Preservation of capital is the supreme motivation



If share powers away, look elsewhere.
Plenty of other fish in the sea.

Regards
Ivor


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gdd3
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Friday, March 12, 2010 - 02:33 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Second attempt here at getting this posted...

PZC might be primed for the next trading leg from present levels; well at least I can present a valid Techn'l argument to say so.

Looking at the chart below, that highlights the trading action since the 8th June 2009 swing low, one can see(my call) that it 'implused' up to the Nov.09 swing high and since then it has been in a 'corrective' phase that may have culminated at yesterday's/today's lows.

Simple Gann analysis highlights that the 'corrective' leg down to yesterday's/today's double low was/is 0.618 in both Time and Price...well very close to it!

For those E.W.er's, the corrective pattern also appears to have finished a perfect ABC in structure and wave relationships.

Market interest(M/D) has been building over the last two day's but I admit needs to continue(and I would expect this once 3.4c goes).

2.9c is also at structural support(2.9-2.7c)

So, all in all, I think it is worth my first 1/3 in situations like these!




Cheers
Dolphin


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mdees1
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Friday, March 12, 2010 - 03:38 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



gdd3 do you hold PZC?

it tested the support today and looks to have held up

just wanted to understand your thoughts around the 3.4cent remark???


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gdd3
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Friday, March 12, 2010 - 04:40 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Geez, mdees1, 11 posts in nearly 4 years and 'out of the blue' you come in with a 'non-greeting' ..."gdd3, do you hold PZC?"

Well I won't take that too personally and answer you with "would you like to join me if I were?" and follow up with "...and if so, please expand on why you would?".

Ok, mdees1, backing off a bit I will explain that I have traded PZC before as on Dec18th after a T.A.Z. signal highlighted at the beginning of this thread and in the "Trading Action Zone Set-up" thread and exited on the close of Jan 19th...I thought a great trade...nearly had another entry on Jan25nd but fortunately order was not triggered....Now thats the T.A.Z. trades gone and dusted for awhile anyway. However, yes, did enter my 1st 1/3 today after posting my last post here...at 3.2c...but don't tell everyone(especially those TAZers...they would be appalled at me!).

So, I look forward to your response and advise that you have also entered PZC, ok! If, not wish me good luck, trading or something like that!

Cheers
Dolphin

P.S. Forgot your other question...why 3.4c?...hell I don't know but if you allow me to correct that to 3.5c(and thats what I meant to type), then its what I perceive as the trading "value area" and "pivotal point"(Peter Steidlmayer's ...Market profile)over the last month's trading action. It also was an old resistance and support level first created when she 'gapped' up on Nov.19th.


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espresso
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Friday, March 12, 2010 - 05:55 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Greetings to all brothers, sisters & pets :-)
I can understand why you would throw your fishing line in at this one, however I thought it better to get a confirmation of reversal in the trend and at least wait for the stock to begin trading over the EMA. what is interesting is the increase in volume as the price starts to find its support, this one is to go straight into my watch list as I can see the upside.
Cheers


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mdees1
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Sunday, March 14, 2010 - 04:10 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Haha sorry gdd3

Hi how do you do :p

about the 11 posts, I'm very new to this in the sense that when I first joined the forum I was learning and understanding.....I then got done and lost confidence so didn't visit the forums untill very recently
I don't hold an I probably won't still because I'm back tithe learning stage....I want to learn what the books don't teach...

As for my analysis on the above I just thought there is some lack of volume....Based on the chart by espresso there seems to be very high volume when this thing break resistance...this time it testing support so mayb doesn't need as much ?


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mdees1
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Tuesday, March 16, 2010 - 02:24 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hmmm never post from your phone.......spelling errors galore!

anyway i have been watching this one closely (just to learn again, not buying anything atm) bit of a grid lock at the moment....there was good support at .033 but it got wiped late arvo

although having read some of the other threads i trust it is not worth to look into the 'market depth' too much?


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mdees1
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Friday, April 23, 2010 - 04:52 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



gdd3,

you still tracking this bad boy?

there doesnt seem to be much in the chart....i could be very wrong?







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gdd3
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Saturday, April 24, 2010 - 11:18 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Mdees1,

You're right, there doesn't seem too much exciting in the chart; still locked-in to the 3c - 4c trading range so until it gets above there I'm personally not too interested.

Having said that, if the 3.4c 2 weekly low holds recent consolidation then we may finally see higher prices(according to the rising M/A's etc.)...but M/D interest would have to improve also.

Dolphin

(Message edited by gdd3 on April 24, 2010)

 
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