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AGL should bounce

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Not applicable
any opinions??????
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41 REPLIES 41
Super Contributor
dead cat yes....i'm still short andwill remain so!
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Super Contributor
I waiting for a bounce to enter short.
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Super Contributor
I read here that if AGL breaks through 144 it's next level is 122? I short it at 136 and now it goes up to 145!! What's up with that??
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Regular Contributor
Don't trade what you read on the forum, make your own plans so you can take responsibility for your own gains and loses. The forum is only for bouncing ideas around.
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Super Contributor
nothing is written in stone,these bencnmarks used by various chart followers are based on what happened previously,or where they see a channel where the price seems to move with in two bands....trouble is that all their conjecture is based on historical facts....usually the present is much different to past history.
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Super Contributor
Thanks guys!! It was my own decision to go short,no one held a gun against my head and I'm not implying it.Just wanted an opinion so thank you for yours.The irony is,I sold my shares after a loss of 15%.Went short for the first time ever and now that bites me aswell haha..one can only laugh!
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Not applicable
Ain't the bounce beautiful. Hope it goes all the way up to resistance.
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Not applicable
Beginners tend to get their timing wrong. The reason is that they think of selling at the same time as the herd. Once the herd has sold, there are few sellers left, but many potential buyers, so the market can only go one way - up. (Same argument, in reverse, holds for buying.) Hence the saying that "the money is on the opposite side of the emotion".
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Not applicable
Any of you guys watching Kumba? it is about to break resistance, with an EMA crossover. Showing amazing relative strength in this downturn. Grindrod CEO says that iron ore shipments to China are on the up (only 5% off last years volumes!)
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Regular Contributor
Tim. Now the $64 000 question. When is a good time to short? When it hits the 10day MA, crosses it, bounces on it, when it hits 17100 resistance? Or do you look at other things like minute to minute machinations of the DOW?
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Not applicable
I'm just part of the herd. I'm not at all qualified to answer that question...
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Super Contributor
dookie, I prefer to short when a share hits resistance, not when it breaks support. Just works better.
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Super Contributor
How long do you guys think this bounce will last for AGL? Will it go up to resistance or is this just a day bounce?My short is in at 136.Will it be wise to leave it as it goes up?
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Regular Contributor
Ah. See... Thanks B. I'm going look into that. I've never thought about differentiating between the two. Tim, okay. We'll just keep on working to get from the lemming herd to something a bit more respectable, like sheep and then lion, when we're big.
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Valued Contributor
agl will revserse right after you give in and exit your short .. forget trying to work out where agl is going, you have an exit strategy in place, now all you do is stick to it ..
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Super Contributor
A bit like driving on the highway but using only the rearview mirror to drive. It works, pretty much, mostly - just say between the lines. Until there's construction work ahead.
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Super Contributor
Simon good advice. I did some random entry trading i.e flipped a coin heads=short tails=long with a 2 times atr stop. So I didn't use any form of TA to decide which way the market would go guess what, I made money because when I was wrong I got stopped out and when I was right I let them run. I'm not saying this is a good idea because I think that with experience you have a better chance of choosing a direction BUT I was still shocked at how random the market is and how often we are wrong despite what we believe. I now know profitable trading is all about position size and stops end of story not being right.
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Super Contributor
Sounds like you are at a casino! Beware of gambling.
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Valued Contributor
venice, yes. trading is about selling, that's it. no more complicated then selling well, in other words - cut losses and let profits run.
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