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Trade the Bollonger Band Squeeze

MTS - METCASH

Chart Forum » Stocks - ASX: short term (strictly TA) » MTS - METCASH

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gundy
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Username: gundy

Post Number: 108
Registered: 06-2003

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Friday, March 31, 2017 - 01:11 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)



Sorry I haven't posted for a while and didn't start a new thread so I hope this time I have got it Right...

I have entered MTS at $2.43 today I didn't set the buy for the opening as I was hoping for a better fill or I would just let the trade pass. MTS has been going through a long consolidation on the Weekly chart which I will post at a later date but has broken out and is in IMO a bullish sector Consumer Staples.





Disclaimer: My posts should not be taken as stock recommendations or advice and should not be relied upon as a recommendation or forecast by this member.

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gundy
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Username: gundy

Post Number: 109
Registered: 06-2003

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Friday, March 31, 2017 - 08:51 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 have posted a weekly chart of MTS it tends to give a better picture of the trend which started back at around $1.00. For this trade I have waited till it broke resistance at $2.40 I don't expect a fast trend just a steady move higher. I'm looking towards a target of $3.00. Thanks for the kind words Dydavo appreciate it.





Disclaimer: My posts should not be taken as stock recommendations or advice and should not be relied upon as a recommendation or forecast by this member.

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gundy
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Username: gundy

Post Number: 111
Registered: 06-2003

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Friday, April 07, 2017 - 04:30 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)



I have sold my MTS shares today after last 2 days price action price was on increasing volume so I placed a S/L order at 2.28 as previously shown on Daily chart. Normally I use a mental S/L and sell next day.


Disclaimer: My posts should not be taken as stock recommendations or advice and should not be relied upon as a recommendation or forecast by this member.

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tryhay
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Username: tryhay

Post Number: 1761
Registered: 09-2005

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Friday, April 07, 2017 - 05:53 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)



Hello gundy,

Nothing worse than being stopped out one week into a trade - but it is probably just as well.

FWIW the long term charts below provide some context on MTS & the Food and Staples & Retailing area. Seems to be a defensive area - but who knows with the overseas competition of late (got to be better than that duopoly we used to have).

MTS weekly chart looks to have topped out back in 2007 and has been in decline (say stage 4) since 2013. The counter trend swing (since 2015) looks to be over (gap resistance seems to have halted the swing higher) and MTS may well be ready to resume the primary trend any time soon.

mts

XFDK weekly chart looks to have topped in 2013, and has been weak since 2015 (been in counter trend up swing since 2015). If it can't get above say 140 then that will suggest that down trend is resuming IMO.

xfdk







Happy trading DYOR


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gundy
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Username: gundy

Post Number: 112
Registered: 06-2003

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Friday, April 07, 2017 - 07:24 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)



Hi Tryhay.

You may be right but I have no fear of being stopped out and always have a stop loss in place before entering the trade, I use money management and diversification across strong sectors. In this trade I was stopped out for a small loss. As for the Consumer Staple Sector and being above 140 ??
On the recent strength of the Consumer Staple Sector I brought CGC on the 15.02.17 at $3.59 (includes brokerage) and will received a 100% full franked dividend.

I declare that I hold shares in CGC.






Disclaimer: My posts should not be taken as stock recommendations or advice and should not be relied upon as a recommendation or forecast by this member.

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