Australia's largest stock trading and investment forum Australia's #1 stock forum

PLH could be ready for a breakout - see chart below for comments...

First 1347 Last

Share
Profile

Follow
Jayza1988

694 Posts.

05/01/17

09:21

Post #: 21687755
Share
Originally posted by gamefisherman ↑

@Jako64

Hi Jako, that makes perfect sense and I have two questions after reflecting on your post.
1. If you were Richard Wyckoff, who was most confident in trading a period of markup or markdown, as this reduced risk as much as possible. You would wait for a confirmed breakout, then trade the markup”

I agree with this and have added a pic below, which I think reflects what you are suggesting?

View attachment 390338

2.“That said, if you can't wait and trade something else in the meantime, you could trade it within the range if you are nimble, or 'accumulate with the accumulators' by buying whenever price spikes unexpectedly lower and placing a tightish stop.”

The is where I would appreciate your thoughts. I only want to accumulate with the accumulators. So when they push it down hard (and assuming the stock is in consolidation and not in any type of trend i.e. up or down), buy support or even a break of support if there is a volume spike?

This move by the accumulators I assume is to trigger any retailers stops, and also try to make the stock appear weak and that there are sellers wanting to offload which again is just the Accumulators doing the above?

Cheers
GF

Expand

PLH could be ready for a breakout - see chart below for comments - would you agree/am I on the right track?
2 Upvote

Reply

Top Stories

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

There are more pages in this discussion • 1,112 more messages in this thread...

First 1347 Last

SPONSORED BY