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Online Share Trading

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long TRU

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Super Contributor
went long TRU with CFD today. Views on this one?
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24 REPLIES 24
Super Contributor
What, nobody with me????
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Not applicable
what was your fundamental/technical reason for going long?
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Super Contributor
very clear buy signal on charts
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Not applicable
WELL DONE! where is your profit target? technicall you should have bought last thursday afternoon. fundamentally i read a report truworths fundamentals are strong. now the next big ? what is your exit strategy?
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Super Contributor
Ja very clear tech signals, thanks for that skala
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Super Contributor
You catching the end of wave 4 on daily chart.Weekly chart oversold and daily chart almost overbought.My view: Stay out of this if you were not in already around 11 February!
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Not applicable
rams what do you mean when you say end of wave 4?
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Super Contributor
Wave 4 high today(67.92) close to wave 1 extreme at 68.54 which also forms resistance. So if closes above or if high above 68.54, then invalidates wave 4 and wave 5 unlikely.If strong resisitance at 68.54, then wave 4 confirmed and wave 5 likely to follow. So wait and see,can go either way until technical level of 68.54 tested....
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Not applicable
What would be the holding period of a cfd?
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Super Contributor
Exit depends on what happens at R74 level if it reaches it before LDT. Stop at close below R62-60 for now.
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Super Contributor
reverse head and shoulders (daily) with a shoulder test at R63?
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Super Contributor
I see reverse head and shoulders with buy signal on 17 Feb at 64.82 for a +/- R4 profit which was reached yesterday. Today seems like end of wave 4 and possible wave 5 but weekly still oversold so not a high probability short. Conflicting siganls-best position is NO position at this time.
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Super Contributor
100% retracement? Whats your time frame?
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Contributor
I'm short TRU, long WHL since WHL announced results, up 6% on the pair. Market is loving WHL at the moment and WHLTRU a favourite pair of the market neutral brigade. I'd suggest that interpreting TRU shareprice on its own technically in the short term is a nightmare. Disclaimer - I've never been on a technical trading course or any of SBK's courses, I thought a Bohlinger band was a Zim rock band sponsored by the beer maker up there until I realised the spelling is different.
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Super Contributor
Great when you can find the diverging pairs and works well with retail stocks.Shoprite and Massmart was another some time back.Anyway, I thought MACD was a name for a person with initial M, like Johnny K.Anyway, the less said about the MACD ,the better.
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Super Contributor
just watch out for the Silver crossing on Woolies.
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Super Contributor
Well, was not a profit long trade this one, despite fact that my enter signal was clear.
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Valued Contributor
well that's because traidng is about probability not predicting ..
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Super Contributor
Ja Simon, that is why I do not predict. Thanks for the reminder.
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