[Dinerotrader]

I always enjoy looking at other people's chart analysis especially for stocks to see another perspective but also to get ideas on where a potential move is brewing. Stocks create such a vast list of potential trades that it is impossible to be watching most of what is happening. Many great traders mention that they simply wait for money to be lying around somewhere and just scoop it up with little effort. Brownsfan, would call that a "gimme" trade. My guess is that those types of setups happen quite often in the world of stocks but it can be very hard to be aware of them.

I thought a nice little thread of just annotated stock charts of setups you are watching or have come onto your radar would be not only interesting but also would spur some possible trades for those not watching what you are watching.

So here we go. I have made some great money on PMI in the past so I always am watching them as a way to play moves in housing. They are forming a nice little wedge around a reasonable S/R level I had marked even before the wedge began. I do think this could go either way but I will be watching this.

[DugDug]

Good idea, for all the reasons stated, there are usually a few standout charts.
(i hope) I have attached one that works well for me..
It is VBA an Australian stock. The reason being that it has a lot of potential upside (2-300%), showing signs of rallying on all indicators, and is actually getting upgrades from analysts. (though i am technically based, I stumbled across this news hence alerting me to it)

One point of a thread like this though - ideally it needs be be segregated into either countries, or sectors. Otherwise too many charts may come through. OR try and limit it to people submitting the best of the best - eg; one a week, or fortnight.
Even then I think it will lead to a lot of charts.

[Dinerotrader]

There aren't too many out there that trades stocks on TL from what I have seen so I am not yet worried about anyone posting too many charts.

I can't really see your chart at all because it is too small.

[DugDug]

sorry about the small picture - I'll work out the best way to send these things one day.
Its VBA-ASX on esignal feed. In this case as its a long term trade I use the weekly to confirm, but it also looks similar on a daily chart.
It uses the Donchian channels (I am not a big believer in optimising for the best values, and hence just use 25 day and 50 day)
I simply look for higher highs, and higher lows, while also looking for a lot of potential upside. Which means you have to be prepared to get on reasonably early. But using a weekly chart still gives plenty of time.

[Dinerotrader]

Right at a trend line as well as a support level. Seems like a pretty low risk area to go long with a stop just below trend and support.

[Dinerotrader]

Originally Posted by Dinerotrader »

Right at a trend line as well as a support level. Seems like a pretty low risk area to go long with a stop just below trend and support.

Got a nice move from that support level. I wonder if the combination of a horizontal and trendline support level give a higher probability of a reversal becoming profitable.

[Dinerotrader]

Got a nice hammer on this stock today right at a possible support level. We'll see if tomorrow brings "confirmation" PA to validate the reversal trend.

[brownsfan019]

Originally Posted by Dinerotrader »

Got a nice move from that support level. I wonder if the combination of a horizontal and trendline support level give a higher probability of a reversal becoming profitable.

I think you'll find dinero that the more confluence of reliable signals you get at once, the stronger the trade. The key finding the reliable ones.

Nice charts, keep it up.