i hadnt meant to be overly personal or derogatory so my apologies that my post offended. i guess if im honest sometimes Joncs posts bring out the worst in me. i was merely trying to explain the odds on the trade and wanted to ensure the statistical odds of the said trade were represented correctly.
sometimes folk can post their own 'successful' strategy without considering the implications of someone else blindly following. in this case advising directly against traditional TA theory and taking the lower odds side of a trade being a prime example.
that said, im sure you guys are capable of researching and studying this stuff prior to committing real money to it. so i shall refrain from comment.
dont misunderstand my view or intentions chaps. i know very well that the best price action and profit can come from a 'busted' pattern rather than a pattern itself! many times a technical pattern will break opposite the odds and provide fantastic results, as Mr Bulkowski clearly alludes to there. No, my point, perhaps missed, is that the pattern itself is fundamentally a bearish pattern with a 64% chance of a downside break historically. the purpose of my post was merely to highlight that point.
AYM its self could go either way, its held on to 19.25 several times now (i think 3 or 4 from memory) and of course we all know that support weakens the more its penetrated/tested, so at best this is a low risk long with stop under that support (say 1p for the sake of a spike through)or alternatively it'll break and head to 15p quickly. again, my point was merely to highlight the odds as the aym posts i had read here were jaundiced, weighted, regurgitated versions of posts from 'complete trader' . my attempt at redressing the balance if you like, however unwelcome.
anyhow, best wishes here and on aym should you take the trade.
saves a certain poster from regurgitating it all as his own eh.
oh , and for the record, in case you want an alternative to a posters own experience.........contrary to popular belief......'''Descending Triangle: A sideways price pattern between two converging trendlines in which the upper trendline is descending while the lower line is flat. This is generally a bearish pattern. See ChartSchool article on Descending Triangle (Continuation).'''
well im hoping for lots more 'silly moves' that net me 20% on a trade. personally see it as a 'sensible' move to take some cash off the table at a 20% profit whilst leaving the rest to run IF the 90 pence mark can be breached. selling into resistance always seems to do ok and hasnt been a 'silly move' in the past.
each to their own though i guess. perhaps some cant see the significance of WIN breaking above 90p??? and therefore cant see the challenge that it COULD present?
i'm personally happy to have banked some profit and if it carries on then i will profit further, if not then i will buy back cheaper. cant lose.
long time holder with first buy up at 140 something! now average a quid exactly.
i sold 40% here today @87p (the ones a bought at 70p) as there is a good deal of resistance at 90p imo. there is old support at the 89-90p area which i would expect to act as resistance and also the small measure of the 200 day moving average too at 89.5.
it may be that we need to consolidate in the 80s to really break up to £1. lets hope so eh. a nice takeover rumour would do wonders here! lol
this is nasty. there is still more to come imo. the problem WIN have is that no one wants to buy what the seller is dumping here.
awful descent into oblivion for WIN on the technical front. no real support anymore so no decent entry points for buyers, anyone buying now is doing it on a wing and a prayer!
can any of you guys that know the fundamentals of WIN, put a good case together for a takeover here at a premium to the current price??? or anything else that would suggest WIN is worth investing in, this side of 50p?
you know the company is in the $hite when the clueless rampers all turn up.
its the BB equivalent of opening a Poundland store , you get the pikey bargain hunters loading the trolley up and shouting from the rooftops about how cheap it is, only to get home and find it aint the real mccoy, its out of date and its non returnable!!!