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Trade Trends with Bollonger Bands and Twiggs Money Flow

PGM_Platina Resources Limited

Chart Forum » Stocks - ASX: short term (strictly TA) » PGM_Platina Resources Limited

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tryhay
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Wednesday, June 01, 2016 - 05:35 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Peter mentioned PGM in the Early Stage 2 Weinsteins candidate thread this-morning. https://forum.incrediblecharts.com/userscripts/forums/show.plx?tpc=316907&post=182277 has the weekly chart attached.

My order was only partially filled but looks like PGM is in for some exciting times IMO.

Introduction:
Platina Resources Limited (PGM) is an international resource company focused on the exploration and development of global portfolio of precious and specialty metal projects. PGM currently focuses on the Owendale Project in Australia, the Skaergaard in Greenland and Munni Munni PGM Project in Australia.

I have not heard Li mentioned but platinum and scandium seem to be well sort after - I see Plat. has pulled back to the 38% Fib with a doji on 31/5. I think more discrete fundamentals are driving PGM's PA.

Daily chart suggests inordinate interest (most volume in six (6) years), after pull back to a long term higher low (from July 2013).


Daily


(Message edited by tryhay on June 01, 2016)


Happy trading DYOR


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tryhay
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Wednesday, June 01, 2016 - 09:02 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I looked a bit closer at Peter's chart in the "Stan" thread and noticed that it is a daily chart! One of the classic realities of life is we all have a different interpretation of the same event/s or in this case the same chart/s - I'm sure that is why the market is so productive (ah la what is an elephant like [trunk, tail, ears etc]). It is the gestalt that is of import.

PGM weekly chart shows price action has been down trending for ~fifteen (15) years and it may well be ready to test the top of the channel (recently broken out of short term down trend), and 30 MA is now solidly under PA.

I expect 10 Cents to slow down PA in this instance, who knows it may wish to break out higher....

weekly

(Message edited by tryhay on June 01, 2016)







Happy trading DYOR


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tryhay
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Sunday, June 05, 2016 - 04:40 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



There is no doubt about that Peter - he has sold out already but I have retained some for possible swing higher - and may well top up on any pull back...

p d


Happy trading DYOR


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tryhay
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Tuesday, June 07, 2016 - 03:30 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



PGM has closed the gap but probably needs to pause longer before popping higher...


Daily


Happy trading DYOR


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tryhay
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Thursday, August 25, 2016 - 08:27 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Weekly candle & volume shows interest is returning to PGM; if ~15.5 Cents is taken out then expect higher...

weekly


Happy trading DYOR


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peterloh
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Monday, August 29, 2016 - 08:12 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Chart wise now has truly broken out and returned to retest support several times without breaking down in the weekly chart. In the daily chart PGM has a big black candle, so it may return to retest the breakout this week and have another go later in the week or next week just like the RSI may test the 50% mark.
When I initially traded PGM,it was setting up for a Weinstein's stage 2 breakout and had not met all requirements then which it has now. Whereas in you trading strategy, you have a hand in almost every pie you have traded whereas I moved on once the trade is completed I tend to clear out, returning only with a fresh approach.
I like the volume in the weekly chart with the wig at the top of the candle, showing buyers are not having things all on its own. The daily chart confirmed that by the big black candle on Friday. Will returned to have another look at the end of the week or next.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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tryhay
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Tuesday, January 10, 2017 - 03:32 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Looks like PGM is about to make another crack at resistance - wouldn't be surprised if it busts through this time...

Weekly chart:

Weekly


Happy trading DYOR


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tryhay
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Tuesday, February 20, 2018 - 01:05 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



"Looks like PGM is about to make another crack at resistance - wouldn't be surprised if it busts through this time..."

Well maybe it will bust through this time, with fundamental & technicals in allignment...

pw


Happy trading DYOR


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spdfgh
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I can see how this looked bullish earlier in the week,
I didn't place a trade because indicators were not convincing enough, so PGM still sits on my watch list.
In hindsight it could have been a juicy wave trade from 12 to 15 if you are lucky because PGM is heavily day traded on thin volumes.



(Message edited by sPdFgH on February 24, 2018)


Just another potato.

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tryhay
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Saturday, February 24, 2018 - 07:41 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Well the weekly MACD no longer has that MACD curl, however the daily MACD still looks positive (it is still on D PSAR buy signal). PGM looks to be marking time in stage 2 phase, but I like the way that price action responds to news...

I'm not interested in day trading (have held PGM since June 2016) & swing traded it since then.




pd


Happy trading DYOR


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tryhay
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Tuesday, May 15, 2018 - 10:35 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



spdfgh mentioned PGM on another thread earlier tonight here:

<https://forum.incrediblecharts.com/userscripts/forums/show.plx?tpc=8&post=184681>

Some here have had success in trading PGM since 2016. However, price action has failed dismally since the beginning of this year & the weekly MACD has lost 'that' curl several weeks ago. Even that harmonic pattern discussed here <https://forum.incrediblecharts.com/userscripts/forums/show.plx?tpc=8&post=184352> failed leaving PGM's price action in Stan's stage 1 phase, and with the moving averages all pointing south it would take a brave/rich individual to step in and average down (as suggested by spdfgh)!

The loss of their M.D. with the accompanying loss of strategic direction has not helped the share price (I haven't bothered to check out the short interest).

The $PGM weekly chart: shows the recent clear break in price action and the accumulation occurring - not yet top up time ATM.




pw


Happy trading DYOR


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spdfgh
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Wednesday, May 16, 2018 - 12:14 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



"brave/rich individual to step in and average down (as suggested by spdfgh)!"

I was just testing forum sentiment and there were no arguments against the strategy at the time, so don't blame moi.
And in my defense PGM was consolidating about the lower trend line, plus MACD 100,50 was in the right place at the right time.
But in hindsight there was catastrophic failure of VMA on 30 minute time frame chart that I can see clearly now, but was obscured due to my VMA settings needing adjustments. I will post tomorrow when time permits.

Personally I wouldn't accumulate without a very close look at 30 & 60 min t/f chart.

It's the universal problem of planning an entry based on daily and weekly technicals and indicators being in place, but you find out the party's over and the Porche's, BMW's and Jaguars have all left the building!... Twiggs Money Flow?







Just another potato.

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spdfgh
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Wednesday, May 16, 2018 - 11:37 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Multiple catastrophic failures all the way back to highs Jan 2018. Twigs money flow weekly 21 been out of phase since Jan 19th 2018.
Ive heard it said that averaging down does not work, but I can qualify that by stating Averaging down DOES work if the trend is still positive. IOW If you are caught in an overbought position and price snaps back against your entry, AVD works if the long term MACD / MA setup remains trend positive and the correction presents an opportunity to accumulate. AVD works in that situation.

Fort context; PGM was never in that situation of being trend positive (except prior to first red arrow down on 2nd chart) at the lower trend line. It was out of trend full stop. The only entry at this point is to wait until MACD / MAs post a significant crossing.



1D Historical


30min recent Lower trend line break down



Just another potato.

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