Well if it does my stop loss kicks in and i get my first lesson in feeling the pain of loosing money on the market. I recon if it does tho, its gno drop significantly furhter, more opertunity i suppose. But thats just my ammature opinion
Hi Brazen, I think a new AGL low may be in the make. I won't go long before the TA indicates a turnaround, not at R170 like before. I guess this turnaround could be when AAUK tests its previous low of 10.50GBP, so we have more downside to go. Also watch, the AGL results come out in the next fortnight. Ride the short with tight stops.
salv, no, stick to your stop. AGL has developed a range and I've been going long at 170 and then shorting it at resistance (which has gotten lower and lower = bearish). It's been a very good trading share for months and support at 170 has been solid. I think Pam is right about it breaking, but I don't know that and my system says long at 170 until it doesn't. But that in no way means hold on to your share. IN NO WAY.
Anyone else see a double top (daily candle) from 8 Dec - 14 Jan? If it is one - Surely there's a good chance for AA to drop to at least 144.50. Or does the fact that it went through the neckline upwards negate all that?
Theres quite a few shares teetering on critical levels waiting for what dow direction. Should this break the bigger picture for us all is problably going to be real ugly even if you make a few bucks doing a short or two.
170 seems to be solid support. Its tested it a few times already intra day and day close, and week close. If it gets to 170 again, im am going long, missed out today. AGL/BIL is trading in a nice range, buy on bollinger support and sell on resistance.
I'll bet on a bounce at 170 yet again but this time when I short it at resistance which will likely be lower than last time I,m staying short. Why?? 170 has been tested four times, price action is below the 50ema just remember in a bear market sell the rallys this is no place to be long it isn't smart to trade againt the trend, lastly everyone is trading the range so when they get caught long and have to cover the door going to be narrow and we should get a good run to the downside. Now that I wrote this the exact opposite should occur you all know how the market is no place for planning just go with the flow.