Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: - with a K who wrote (2602)	3/5/2005 5:43:17 PM
From: chowder	Read Replies (1) of 13449

CIB is a good example of how our 3-5 bar drop set up should work on longer term trades as well. Back in September 04, the buy signal came as price broke out above $9.00 on above average volume. The price moved as high as $14 and change before we saw the first 3 bar drop. MACD was positive and money flows were incredibly positive. I am going to put this one on a watch list and wait for a correction like the last one. stockcharts.com[h,a]waclyiay[d20040105,20050305][pb20!b40!f][vc60][iut!Lah10,30,5!Lc20]&pref=G Note the nice pull back in January into support on BF and the price then broke out to new highs. The same set up I use for 2-5 day trades works on longer term trades as well. stockcharts.com[h,a]waclyiay[d20040105,20050305][pb20!b40!f][vc60][iut!Lah10,30,5!Lc20]&pref=G The best buy signal for RIO came in October 04. We haven't seen a 3 bar drop since. RIO is showing a potential reversal here though. You saw a huge volume gap up two weeks ago followed by a high volume Doji at a price high. It's not an every week thing to see a Doji appear. So I wouldn't ignore it. Perhaps we can get a 3-5 week drop into support for another opportunity to buy in. I will put this one on a list as well. stockcharts.com[h,a]waclyiay[d20040105,20050305][pb20!b40!f][vc60][iut!Lah10,30,5!Lc20]&pref=G Thanks for you input. I sincerely appreciate it. dabum

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