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

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Jayza1988

694 Posts.

05/01/17

09:21

Post #: 21687755
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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

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