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Kg no you want it at the bottom of a downtrend the candles should have certain characteristics to they have to have opened within the previous candle and finish near session high with very little wicks.
Because three white soldiers is a bullish visual pattern, it is used as a potential entry or exit point for a trade. Traders who are short on the security look to exit and traders who are waiting to take a bullish position see the three white soldiers as an entry opportunity.
When trading the three white soldiers pattern, it's important to note that the strong moves higher could create temporary overbought conditions. The relative strength index (RSI), for example, may have moved above 70.0 levels. In some cases, there is a short period of consolidation following the three white soldiers pattern, but the short- and intermediate-term bias remains bullish. The significant move higher could also reach key resistance levels where the stock could experience a period of consolidation before continuing to move higher.
Limitations of Using Three White Soldiers
Three white soldiers can also appear during periods of consolidation, which is an easy way to get trapped in a continuation of the existing trend rather than a reversal. One of the key things to watch is the volume supporting the formation of three white soldiers. Any pattern on low volume is suspect because it is the market action of the few rather than the many.
To combat the limitation of visual patterns, traders use the three white soldiers and other such candlestick patterns in conjunction with other technical indicators like trendlines, moving averages and bands. For example, traders may look for areas of upcoming resistance before initiating a long position or look at the level of volume on the breakout to confirm that there was a high amount of dollar volume during the move. If the pattern occurred on low volume with near-term resistance, traders should until there is further confirmation of a breakout to initiate a long position.
What Is the Best Timeframe to Use the Three White Solders Chart Pattern?
The effectiveness of the three white soldiers chart pattern can vary depending on the timeframe used for analysis. The best timeframe largely depends on the trader's style and risk tolerance. Generally, the three white solders pattern is often considered more reliable on longer timeframes such as the daily or weekly charts.
https://www.investopedia.com/terms/t/three_white_soldiers.asp
ššæā¦ā¦ next few weeks could get interesting
Three white soldiers š«”
https://ibb.co/YT9LJWP
https://www.ig.com/uk/trading-strategies/a-trader_s-guide-to-the-three-white-soldiers-candlestick-pattern-200218
Iāve nothing against shorts you need them for an orderly market imo but when they are loading up near all time lows they deserve to be squeezed! where was they when this was 90p
This is crying out for a performing better then expectations rns that would smoke em
Take this for example where it reclaimed 55.3
(That bit circled) notice the first time it popped through 55.30 it came down but wasnāt able to hold on it fell back through now when it fell back through it didnāt bounce of the underneath either it was able to reclaim 55.30 55.30 just had its head sticking through then notice the next candle it bounces of it thatās it reclaiming/breaking out then it should attack the next key area which is 59.5 notice how itās started slowing down now weāre approaching it. You have to see how it reacts to that now will it breakout or reject it. Itās about finding these magical places what have meaning
https://ibb.co/D8w6nNt
Ta doesnāt work? Whaaaaaat š try tell that to all the people on trading floors around the world, the piās the iiās,hedge funds, retail investors/traders just because you donāt know how to read a chart doesnāt mean nobody else does. Itās one the most important tools for the job people use it for a reason. If you was going to be a fireman would you go out to work with a a water pistol? Or turn up to build a house with a bag of cement and a trowel? No you need the right tools and this is no different.
Jg I hope you put your lines on, you have the right mentality to succeed your willing to learn and evolve! Donāt be one of these stubborn people who thinks they know it all and youāll do well.
In a world where lambs get slaughteredā¦be a wolf
Hi lg
Imo you need to find out whatās causing you to lose first of all. Are you going in heavy straight away trying to make home runs for example? And then losses look unbearable when itās starts dipping? If so why not start with a lot smaller size say an 8th or 10th of your position give if room to drop if falls a good chunk stick another 2 8ths or 10ths in that way your building a position over time and should be more weighted to the low end so it will make it easier to get with profit.if your investing in something a dip in the s.p shouldnāt really change your conviction. It will take years and a lot of experience to get really good at this but donāt give up lg
good luck whatever you do
Paddy I did, thought it would go little lower. I was actually hovering over the buy button on that for my godson at around 1.40 but after doing my due diligence decided against it which I was quite proud of but then I unfortunately stuck in here and itās not done any better to be fair ha! Avoided one car crash and straight into another.
My horror story is Darktrace it was my biggest holding Iād invested with a 5year view didnāt need the money
Even had a note on my chart at low Ā£2s saying donāt be a biatch top up with x amount on leverage, then I had that accident where tractor crashed into me, I now needed a lot of money so Iām looking at dt thinking Iām probably going to have to sell you, a couple days later they get accused of fraud the sp bombs that would normally trigger my buy but now warning sirens are going off in my head if itās true shares will be suspended and open up around 90-95% down so I was a risk I could no longer take had to pretty much sell the bottom! I seen the news last week I felt like crying haha that would of absolutely transformed my portfolio and gave me phenomenal amounts of buying power on leverage which would of put me well on my way to achieving my goals
Jg Iām spreadbet acc because thatās what I trade on so they may be slightly different to yours but shouldnāt be far off
October low 55.30
Monday open 59.5
Covid low 66.30
Take Covid low for example put it on 1 or 4hr you will notice itās the last place it touched before it started coming down again. Donāt go doing anything rash jg ffs listening to people on here is dangerous ha. Could be a good lesson for you tho,if you wanna trade it do it on a demo acc
Itās what professionals do, Iām not professional by anymeans but if it works for them itās good enough for me.
Could be the difference between getting in too early and getting a way better price
Or say you bought 50p high 40s and it bounces, banking your profits when you notice it canāt get through one of the levels above before it turns round and falls off a cliff again.
On your last question yes that was sort off my take, Im not expecting anything supper quick tho as looking at it from a buyers side, if your going to purchase anything using debt then your going to need rates down especially for low margin businesses so Iām guessing we kinda have a limited market to sell to at the minute anyway
Paddy I was being sarcastic š I watched the presentation live, missed the last two mins of q na because had to nip out and my signal went when leaving the house.
What I meant was why would the secretary and other insiders be buying if this was going into admin? they wouldnāt, Jesus!
Jg I will have a look in a min and post
Paddy- I hope it goes low 40s as i'm buying more!
Also paddy-The simple advice is: If you think this is going bust: Sell everything or don't invest in it!; If this is going to low 40s: Sell everything tomorrow & buy back at low 40s! There it is.The end! š¤
Jg whatās Simon (secretary) hoping for then an invite to the administration party? ha. Whatās clear is itās beat a lot of you down now and I get it but you need to try keep emotions out of it thatās how you make mistakes.
Shorts- are betting on this accelerating down and it canāt even hold Octobers low at the min (bearish. ) but you have bullish divergence on multiple timeframes so imo itās trying to trap some long or shorts (one of thems about to be horribly wrong) you have 3 key levels close by so if you access to a chart you need to put these levels on because if is about to accelerate down one of these will likely become resistance they are
The October low
The open from Monday
And the Covid low
Thereās not really any support below 50ps a good area but only physiological at best traders/investors like key numbers 888,Halfords for example but thereās no reason it canāt end up in the 30s Rr, thg, boohoo for another example
If it accelerates down keep an eye out for the sp getting exhausted making smaller moves,sideways trading then one last attempt to go down but bouncing back, it will bounce back like itās on steroids
Fomc next week markets where expecting 1475 points of rate cuts from central banks but now itās only 475 according to Bloomberg so some of that might eventually get priced into the markets
Mixed bag really I thought fy was pretty poor even with most of it known
The covenant increased to 3.0 from 2.8 (getting it down is meant to be a priority)
The target date of 2025 for 1.5-2.0 has been put back until 2027 ( considering most of debt matures 2028 they better start performing)
And the provision came in not at 40-70 like they first forecast or even 70m like they updated but 99m
Q1 seems ok tho
Shame stamp dint take Garat with him
Jg the 22 report is old news you should be looking at h23
The headroom has gone from 225m up to 371m now
The data points what would trigger an impairment have also increased (which is good)
Ie the data points have increased from 110 to 190
120 to 190 and 130 to 200
We did try work this out a while ago but there was only a couple of people interested, itās kinda to late now anyway your locked in until results drop š
Same lwhl we was discussing this recently.
Paddy it doesnāt necessarily have to be such a high percentage but yes stocks that move. A lot trade Tesla for example, because the average daily range is around $6.50 so say you come in pre market and itās only moved a $1 or $1.5 you would know straight away you could have a decent move coming depending on which way it breaks out long or short.
Back to earnings, we are down roughly 20% in the 20 days leading up to them. Now unfortunately you canāt see the expected move on earnings realease like you can with u.s stocks but say we had an expected 20% move coming (up or down) on earnings release it has already made it to the downside so imo it would take something absolutely horrendous to take this down big and keep it there and not get bought up.
I still think the markets have a little more downside yet personally, may is historically a slow month,sell in may go away all that malarkey. So if we move to the upside and it struggles to hold its gains try not to get emotional we may have have to wait for the main markets to start curling back before we do.
Thatās my thoughts
Day traders are scum š
Paddy where do get there are loads day trading this from? There isnāt
Why would you day trade this it has .5 spread and moves about 2-3p
Thereās loads better stocks to day trade than this. Eg rr it has 1p spread and moves about 10p+
Day traders want stocks with range.
They usually trade stock with news that actually move not junk like this mate
@ronnie you donāt work for hmrc do you? š
On this account I could Yh. And I would think on most accounts you can track your progress. I do get what you are saying tho I have multiple accounts and have even closed some down some sites are better than others so itās kinda like finding the shoe what fits best. Also did they start with a lump sum or do they add it as often as they can do they withdraw it can be a lot to keep track off but you should have some idea of how your doing at all times imo. I had to take a lump some out not so long ago (through no fault of my own) because sometimes life hits you hardā¦ or idiots driving tractors doš¤·āāļøš
Paddy. I wonāt miss out tho if it turns because i always keep a core holding. I have buys above Ā£1 my average on paper has gone back upto 93 at the min be lower including anything Iāve banked, il add to again when ready. Like I said i donāt necessarily class it as earning me loads because my main holding is still down more saving me thousands. If your strategy is hold do nothing then moan when it doesnāt work then thatās on you but I wouldnāt be so quick to say ppl are lying or talking bs just because they have a different strategy to you. Take Mary for example she has a similar sort of strategy and I bet she has outperformed anyone who just bought and hold. She knows whatās sheās doing and sticks to her plan, yes sheās an amateur and still gets things wrong but don't we all? Iāve seen ppl make millions doing what she does, and No matter how good you are at this you will get things wrong,
But donāt we all? Imo thatās what stops a lot of you is fear! Fear of being wrong and I know that for a fact because I use to be the same. So I surrounded myself with people who know what theyāre doing and learnt. When you learn and come back to lse you realise 90% on here are clueless. This is actually one the best boards Iāve seen tho some intelligent ppl on here,
Poker,wealth, lw to name a few
Jg ahh got ya
Paddy-guilty Iāve said from the start Iām trading round a core and am more trader based
And il be honest the positions Iāve closed on this are in net profit, its saved me loads more than anything its not particularly made me loads because the majority of the time itās only come down and Iāve only shorted it a couple of times once recently because the updates arenāt exactly screaming buy and like Iād already mentioned the markets needed a flush imo itās was more a to cover my core holding more than anything but Iāve bottled it closed it and took profit plus itās getting to an area Iād like to see it hold onto whether or not it will tho will have to wait and see,
I agree with what you said the other day when someone said your trying to scare people š¤£ just because itās low doesnāt mean it canāt go lower, if they keep underperforming weāll be punished š¤·š»āāļø