THE JOY OF CANDLESTICK TRADING - a Learning Experience

[tymen1]

Anwer to Stage 6A

Everyone is correct here.

It is definitely time to enter that 2nd amount now.
We have gone thro 4 candles now with the Starc rising, so we can consider that the limit of the Starc "walk" has been reached.

With the price going down, there is no time to waste now entering that 2nd amount.

[tymen1]

Stage 7

Here is the next 5 minute chart >>>


By tymen1 at 2008-06-15

As you can now see, that red candle really moved down!!

The new question is on the chart - a bit of a give away really, but maybe readers deserve a break.
The price at the point of question is 107.94

The question on the next stage chart will be much more gruesome!!


Note that there are 3 numbers 1,2,3 on the chart.
They have nothing to do with the trading. They are merely there as locators so that on the next chart you can see where you are.



2nd entries so far :

Trav72 - 108.04
Vulcan Classic - 108.04

Both averaged ....(107.92+108.04)/2 = 107.98.
A profit will start to be made when the price action goes below 107.98

Kenneth Lee - 108.03
Neboxian - 108.03
Keitsuke - 108.03
Ericoco - 108.03

All 4 averaged....(107.92+108.03)/2 = 107.97
A profit will start to be made when the price action goes below 107.97

Sinn1 - 108.03 for 2 complete amounts entry. 1st entry closed. Credit = -10 pips.
Immediate profit for Sinn1 as soon as the price drops.

Ray 1 - no post received at present.
BrianSNJ - temporary delay due to broker changeover.

[ericoco]

Would not have exited there because the price action has not touched the lower starc band.

Please edit the price entries to 108.03 and not 108.93

Kenneth Lee - 108.93
Neboxian - 108.93
Keitsuke - 108.93
Ericoco - 108.93

All 4 averaged....(107.92+108.03)/2 = 107.97
A profit will start to be made when the price action goes below 107.97

[tymen1]

Originally Posted by ericoco

Please edit the price entries to 108.03 and not 108.93

Thanks for your keen observation Ericoco!!

I have corrected it in my post.

[VulcanClassic]

Tymen,

I don't think I would have exited there. 4 pips profit assuming 107.94 is ask, if its bid then only 2 pips. That doesn't get me excited. Plus it didn't hit the Starc. Looks like a roller coaster.

We'll see.

[neboxian]

Price is riding center BB ....and not touching lower sarc ....looks like we...So-Haw! .....
when price starts to ride the lower Sarc/BB

[KENNETH LEE]

I would hold there only 3 pips,, looking for 10 min.

[tymen1]

Anwer to Stage 7

No hard and fast answer here.
I see that you all decided to stay in.

OK.

I did exit but I will tell you about that at the end.

I will keep record of all the pips scores.

Lets look at what the next chart brings!

[tymen1]

Stage 8

Here is the next 5 minute chart >>>


By tymen1 at 2008-06-26


The numbers 1,2,3 can be seen on the chart again. These locators connect this chart to the previous chart.
The Starc bands are shaded in grey to make the problem a little easier.

The Starc bands are going level at this time.

The question is on the chart.

If you did not exit 1 or 2 amounts earlier, then I guess that there is not much you can do at this time.

Unless you want to enter a 3rd amount!! (not recommended).

But watch the average if you do - you will be dealing with 3 quantities, not 2.






So far :

VulcanClassic, Neboxian and Kenneth Lee all holding on with 2nd entry amount.
Others have not posted.

Sinn1 - 108.03 for 2 complete amounts entry. 1st entry closed. Credit = -10 pips.
Immediate profit for Sinn1 as soon as the price drops.

Price dropping to 107.90 gave Sinn1 a potential profit of ...108.03-107.90 = 13 pips. Now 13x2amounts = 26 pips-spread (1) = 25 pips.
Finally, with credit of -10 pips, total now is 15 pips.

Other pips totals are still pending.

[VulcanClassic]

Hang on and hope for the best, if it hits my stop then oh well. Next.

123 would've been a good point to bail out too because it's a definite point of support there.