Intraday

[#1]

I'm quite proud of myself and had to share: Anyone else see the downward break from a rising wedge on the TOPI intraday chart? I did, and sold my long posi at a high of the day. heh heh, what a play!

[#2]

Reverse head and shoulders from open of trade to now (some of the head was bitten off :).

[#3]

Hey S-Man. Got in on Monday DWI @ 112, Sold yesterday @ 162, remaing 5200 today @ 162.Easy as pie.Short at the mo.

[#4]

Nah, reverse head and shoulders. should shoot up past previous high at any mo... Maybe... I'm in TOPDWJ.

[#5]

Stupid head and shoulders

[Asher]

you sure it was a reverse H&S and not a dbl top? There seems to be another H&S forming now - or is that a falling wedge; which means the H&S bottom is still in play...what are the volumes like? Formations are in the eyes of the beholder. Unless they make you money then "well spotted".

[#7]

lol

[#8]

Formations are in the eye of the beholder, WTF? Formations are merely probabilities of human behavior. I think what is apparent here is that hindsight is a perfect science.

[SimonPB]

nah formations are generally useless except for two; head and shoulders (an reverse) and dow theory (high high and higher lows) witht he latter by far the best. Otherwise no statistical proof they they make money, that said lots of people get very excited by them, but no real evidence that they get rich from them.

[#10]

I'll agree to disagree. A couple of confirmed formations in today's TOPI chart:
1. Breakout to the downside of a rising wedge (bearish).
2. Flag formation on the run up at +- 10am (bullish continuation) to:
3. Double top, (which, admittedly, I misread as R/ head & s)(bearish).
Each one of these formations acted precisely as prescribed.

[SimonPB]

question is - did you make money from them? Otherwise !!!

[#12]

Thought that might come up. Misread the R/ H&S and am down R100 for the day (charges).

[Brazen]

Well done super! I'm not sure but I thought I saw a Head up A*s about half an hour ago.

[#14]

I'm not saying I trade using only formations, that would be suicide. I'm just saying I take heed of them.

[Brazen]

Just kidding.

[SimonPB]

ya well that's ntarding - each to their own. If it makes you money milk it dry.

[#17]

I often wonder what it is about the anonymity of chat rooms that causes otherwise pleasant people to become abhorrent. Freud would argue something like "The space of criticism is in fact a meeting place, like the meeting place of the two voices of the patient and the analyst in the transitional realm of transference, a medium of the inbetween, a space that is artificial but nonetheless the place of real investments of desire". I just think deep down everyone's just a *****head.

[Brazen]

Interesting. . . what would Freud say about a Head up A*s formation? Makes you think does it not?

[Asher]

your point 3. Double top, (which, admittedly, I misread as R/ head & s)(bearish).
but that is the problem: is it a H&S; a double top; or a rising wedge? Formations are too easy to misread/misinterpret.

Most triangle/wedge formations can be traded as simple breaks of support/resistance IMO.

[#20]

lol