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GORO
Oct 2, 2013 17:22:37 GMT -5
huh likes this
Post by clinton on Oct 2, 2013 17:22:37 GMT -5
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GORO
Oct 3, 2013 8:52:18 GMT -5
Post by clinton on Oct 3, 2013 8:52:18 GMT -5
OK this is a joke bid size bigger than Ask size yet shorters keep pushing the price down
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Post by clinton on Oct 3, 2013 9:47:32 GMT -5
shorts running in fear now
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GORO
Oct 3, 2013 10:51:00 GMT -5
Post by huh on Oct 3, 2013 10:51:00 GMT -5
Looks to me like 5.73 would be a solid stop in this one now.
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GORO
Oct 5, 2013 10:29:23 GMT -5
Post by clinton on Oct 5, 2013 10:29:23 GMT -5
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Post by PoorHomey on Oct 5, 2013 23:18:24 GMT -5
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GORO
Oct 7, 2013 8:56:04 GMT -5
Post by clinton on Oct 7, 2013 8:56:04 GMT -5
shorts trying to hold this down with large ask but not working today so far
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Post by huh on Oct 7, 2013 9:52:51 GMT -5
Go GORO! Go GORO!
I hope I'm wrong about that lower target for Clinton's sake.
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GORO
Oct 8, 2013 13:06:49 GMT -5
Post by clinton on Oct 8, 2013 13:06:49 GMT -5
Bullish OBV divergence detected at GORO 5.52 lets see if this pops
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GORO
Oct 8, 2013 14:50:26 GMT -5
Post by clinton on Oct 8, 2013 14:50:26 GMT -5
nope, not today
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GORO
Oct 9, 2013 16:46:09 GMT -5
Post by huh on Oct 9, 2013 16:46:09 GMT -5
Nice relative strength in GORO today.
Looks like that 5.73 former support might become significant again. Hit it and lose 5.65 tomorrow would set-up a bear flag, target ~5.08. But breakout above there and get an upside target between 6.60 (gap fill) and 6.80's (backtest).
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Post by huh on Oct 9, 2013 18:12:23 GMT -5
Here's a good example of how I use FIBs - with patterns. Nearly every pattern works within the FIBs. Even H&S'. If you combine FIBs with the pattern rules, you can many times estimate where things will turn. Take a look at a potential bear flag on GORO. First, two important rules I use for bear flags. The first, the pps should pullback to the upper channel at least twice after the low of the pole is made (and most often ONLY twice). The second is that the peak of the pullback within the flag should occur at one of the major FIBs. In this chart, you can see that this current consolidation is obeying the FIBs perfectly. The first touch of the upper channel occurred right at the 38.2 FIB. Now look where it fell after that touch - the 23.6 FIB, which intersected with the bottom channel at the same time. And today's close popped it right above that previous resistance, that same 38.2 FIB. That tells us it will go higher tomorrow. And that's to be expected, since it only tapped the upper channel once since the low was made. So where should that next tap of that upper channel line occur? Well, the next FIB line up, the 50% FIB is the next resistance. But, it no longer intersects with the upper line of the channel. However, the next FIB up from there, the 61.8 (and the last line of defense for this recent down move) does intersect it tomorrow morning. So the likely move tomorrow would be, 5.66 (the 50 FIB), then 5.58 (a backtest of the now defeated 38.2 FIB), then 5.73, the 61.8 FIB. No coincidence that 5.73 also happens to be resistance now (see my previous post on setting a stop under 5.73 if long). That support was lost, but never backtested. So hitting 5.73 now would be a backtest of broken support, a tag of the 61.8 FIB, and a tap of the upper channel of a bear flag. So if you're bearish on GORO, that's where you go short with a stop of only a few pennies. If it then loses 5.65 (the bottom channel and the 50% FIB), you can move your stop to that point AFTER it backtests that break and fails. If GORO were to break out above that 5.73, you have a broken FIB resistance AND a broken bear flag. That would be very bullish.
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GORO
Oct 9, 2013 18:22:50 GMT -5
Post by huh on Oct 9, 2013 18:22:50 GMT -5
It's not a perfect system, but it gives you well defined entry points, and more importantly, low risk stops. Sometimes you get overshoots either way, so you kind of have to watch everything else as well (like GDX and Gold with this play) to get a feel for it.
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GORO
Oct 9, 2013 18:43:30 GMT -5
Post by maxi on Oct 9, 2013 18:43:30 GMT -5
Do you mean the pps should pullback from the upper channel or do you actually mean it should run up to the upper channel.
same question on this sentence:
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GORO
Oct 9, 2013 18:59:34 GMT -5
maxi likes this
Post by huh on Oct 9, 2013 18:59:34 GMT -5
Sorry, it's not that I have trouble explaining it - it's that the way I think is hard to explain! LOL
By pullback, I mean opposite the direction of the pole of the flag.
So in the case of a bear flag, the pole was down, so I think of the pullback as up. Against the larger direction. I know it's wrong...but I think of a consolidating pullback as opposite the larger direction (since it's consolidating).
Does that make sense?
if this were a potential bull flag, pullback would make perfect sense.
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GORO
Oct 9, 2013 19:26:29 GMT -5
huh likes this
Post by maxi on Oct 9, 2013 19:26:29 GMT -5
I understand by looking at the chart you drew. Without the chart OY VEY! LOL......
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Post by huh on Oct 10, 2013 15:24:38 GMT -5
Here's an update to that GORO chart I posted yesterday. Although it didn't play exactly as clean as I would have liked because of the crazy morning moves, it was very, very close. Peaked where it should price wise (a little off on the timing), and it broke down exactly where it should, on both price and time. Overall a good play if someone was looking to play the bear flag. 5% gain for one day, with only a few pennies at risk. Hope this helped someone in at least using FIBs with flag patterns. Uploaded with ImageShack.com
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GORO
Oct 11, 2013 9:17:24 GMT -5
Post by huh on Oct 11, 2013 9:17:24 GMT -5
If anyone played that bear flag in GORO, that play is over. Target reached.
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GORO
Oct 11, 2013 9:18:52 GMT -5
Post by huh on Oct 11, 2013 9:18:52 GMT -5
Long GORO 5.06. Spec play - H&S and bear flag targets were reached. And, yes, I know both GDX and Gold have targets much lower than here. Like I said, spec play (more like a bounce play).
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GORO
Oct 11, 2013 9:21:27 GMT -5
Post by clinton on Oct 11, 2013 9:21:27 GMT -5
cant believe how bad this is are earnings really going to be that bad? Ive gone over their numbers and see nothing crazy to this point.
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