Rank: Elder Joined: 7/11/2012 Posts: 5,222
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hisah wrote:Mukiri wrote:hisah wrote:Spikes wrote:hisah wrote:hisah wrote:karasinga wrote:Spikes wrote:hisah wrote:hisah wrote:karasinga wrote:karasinga wrote:Angelica _ann wrote:
Also consider doing TA for ARM!!!
Hello Angelica _ann. Have a look at what I am seeing and my thought process on the chart. I concur with sparkly. Fundamental gurus are highly welcome to bring their side of the story.  hope this will help. note: remember disclaimer best wishes think market marker and insiders have something here up their sleeves  due you do diligence and remember disclaimer best wishes A month later price action still stuck here. Dojis continue forming on the weekly and monthly chart. Accumulation? Loaded some this week. Aggressive play. 
Tough obstacle starts from 24 all the way to 30 handle. My expectation is the bear has overcooked the bad news so if FY comes out are burnt food the price will edge up! Any positive news will boost the resistance breakout. Pray for positive FY news. If negative a new breakout south is most likely to demote your expectations. @ spikes. You are right on that a false break out south is a possibility.Technically, bulls have had a laboured move north which tells me bears are still present. But on "praying".... NO NO NO. We don't hope/pray in this business. It is either there are reasons to engage or not. @ hisah. quoting Mark douglas "You must learn to trust your edge. The edge means there is a higher probability of one outcome than another out of 100 trades. The greater your confidence, the easier it will be to execute your trades"... you are doing well mate as long as you are following your trading plan. happy hunting @karasinga, this is an aggressive play (risky). Not recommended as an investment move, but as a trading the news front running speculative move.
@spikes, NMG went to the pits as it crashed towards 70 handle. A nice risky play from that pit. I see the same with ARM since the bears have been struggling with lower lows since Feb. Waiting for that upside run  2 weeks later the news front running is playing out as expected as the first barrier at 24 handle is blown away. April 30th is almost here where is the FY news? I still expect bad news to be bought based on the monthly doji candles on the monthly chart which had the highest volume in a decade that appeared in February this year! Let's wait and see if market makers wanna swim north against the current . The news is out and Mr market has interesting price action. The huge gap down (on thin vol) still respected the 18 - 20 level where we got the huge vol spike in February. In a few weeks we will see if this is a shake test before 30 handle can be tested! I know this will fly against the FY news, but Mr market is one weird character @Hisah, your risky ARM is almost back to where it was. What do you reckon next? And hopefully in what timeframe? Nothing has changed as per my expectation. I can't predict the timescale for the upside move, but likely to do so in coming weeks. Target?
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