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Strategies & Market Trends : Steve's Channelling Thread
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To: vampire who wrote (3076)7/10/2000 6:38:28 PM
From: Jorj X Mckie  Read Replies (2) of 30051
 
Metsin6,
EDIT: I see that Tim posted a P&F chart too. Our trading
styles may dictate a different reading of the chart. I am a
relatively short term position trader and I think that Tim
is a bit longer term (Tim, correct me if I am wrong) and I
will often play stocks under their bearish resistance line.

P&F chart for BVEW. On a pattern called a bullish catapult.
Very bullish pattern for us piffers. And ideal entry would
be at around 11.5, but sometimes they can take off without a
pullback. Volume spike at the end of the day suggests that
this may be the case with BVEW. To answer your specific
question, I think that it is breaking out even as we speak.

I set pretty tight stops (mine would be anything under $12),
but P&F would dictate a stop at around 10.5 based on
reversal beyond three boxes.

All IMHO

44 | X O * 44
43 | X O * 43
42 | X X O * 42
41 | X O X O * 41
40 ---------+---------------X O --------X O X ------* ------------------------40 -
39 | X O X X O X O * 39
38 | X O X O X O X O * 38
37 | X O X O X O X O * 37
36 | X X O 3 X O X O X O * 36
35 ---------+-----------X O X O X O X O --O X O --------------* --------------35 -
34 | X O X O X O X O O * 34
33 | X O O O X O 33
32 | X O O 32
31 | X O 31
30 ---------+---X --X --X --------------------O ------------------------------30 -
29 | X O X O X O 29
28 | X O X O X 4 28
27 | X O X O X O 27
26 | X O O X O 26
25 ---------X --X ----O X ------------------* O ------------------------------25 -
24 X O X O X * O 24
23 X X O X O X * O 23
22 X O X 1 X O X * O 22
21 X O X O 2 * O 21
20 -----X O X --------------------* ----------O ------------------------------20 -
19.5 X O X * O 19.5
19.0 ----X O +-----------------* --------------O ------------------------------19.0
18.5 X | * O 18.5
18.0 ----X --+-------------* ------------------O ------------------------------18.0
17.5 X | * O 17.5
17.0 X --X --+---------* ----------------------O ------------------------------17.0
16.5 X O X | * O 16.5
16.0 X O X --+-----* --------------------------O ------------------------------16.0
15.5 O C | * O 15.5
15.0 --O X --+-* ------------------------------O ------------------------------15.0
14.5 O X * O 14.5
14.0 --O --* +---------------------------------O ------------------------------14.0
13.5 * | O Top13.5
13.0 --* ----+---------------------------------O ----------------X ------------13.0
12.5 * | O 7 12.5
12.0 --------+---------------------------------O ----------------X ------------12.0
11.5 | O X X 11.5
11.0 --------+---------------------------------O ------------X O X ------------11.0
10.5 | O X O X 10.5
10.0 --------+---------------------------------O X ----------X O X ------------10.0
9.5 | O X O X O 9.5
9.0 --------+---------------------------------O X O X --X --X ------------ Med9.0
8.5 | O X O X O X O X 8.5
8.0 --------+---------------------------------O --O X O X O 6 ----------------8.0
7.5 | O O 5 X 7.5
7.0 --------+---------------------------------------------O X ----------------7.0
6.5 | O 6.5
6.0 --------+-----------------------------------------------------------------6.0
5.5 | 5.5
5.0 --------+------------------------------------------------------------- Bot5.0
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