StockFetcher Forums · Stock Picks and Trading · WFC - Breakout.<< >>Post Follow-up
Mactheriverrat
2,133 posts
msg #146994
Ignore Mactheriverrat
3/18/2019 4:17:35 PM

WFC- Now that's a true breakout above resistance line.


Mactheriverrat
2,133 posts
msg #147153
Ignore Mactheriverrat
3/30/2019 3:15:38 PM

Every time price hits a resistance line it makes that resistance weaker. The breakout is when the price can break that resistance line as in breakout. Every breakout can fail and WFC is a prime example.


graftonian
815 posts
msg #147466
Ignore graftonian
4/20/2019 12:40:20 PM

Does ETFC fit the mold?

Mactheriverrat
2,133 posts
msg #147467
Ignore Mactheriverrat
4/20/2019 11:29:05 PM

@graf
It sure did with a ascending triangle.



Mactheriverrat
2,133 posts
msg #147468
Ignore Mactheriverrat
4/20/2019 11:32:55 PM

DGAZ had a nice breakout.



Now that I've posted it its sure to go down " Joke"

dtatu
105 posts
msg #147470
Ignore dtatu
4/21/2019 11:59:08 AM

I think the way to play theses breakouts is
1. either place a buy limit at the breakoout line in the days after the breakout has taken place ( as , most of the time,the market will test again the NEW support (at the old resistance), before really taking off); one may use a stop below a previous significant low, or a close below the NEW support; this will limit the losses if it's a false breakout)

2. or, after the test of the new support(old resistance), wait for a positive day( white candle) and buy on close

*just my opinion

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