GLNG Trade on Jun 16, 2015 11:51 from nicktrabs: Tradervue User Stock Trades.

bull flag but setup failed and stopped out

Execution detail:

Date/time	Symbol	Side	Price	Position
2015-06-16 11:51:00	GLNG	buy	$49.200	long
2015-06-16 11:54:00	GLNG	sell	$49.040	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=GLNG&trade=3038813&end=20150716&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=GLNG&trade=3038813&end=20150616125200&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=GLNG&trade=3038813&end=20150616142400&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

SPatelIB15-1

2015-06-16 22:51:24

More of a bear flag. Lower highs and basing at around $49. I would have seen this as a short. http://prntscr.com/7hvd9f

nicktrabs

2015-06-18 00:34:57

Thanks SPatelB15-1. so lower highs even though a flat base you would consider more as an indication of a short play coming? My mind keeps telling me the flat base is a safer identification for risk level. whenever I see the invert of this flag I start worrying about having to set too loose of a stop, but maybe I should be looking to enter close to the flat area of resistance/support and use that level as an indication as to the direction the price is about to break. I'll try this out over the coming weeks.

SPatelIB15-1

2015-06-19 02:11:30

Yep! Lower highs means bearish, higher lows means bullish. What I charted out was a descending triangle pattern (bearish). Now that doesn't mean it's always a short. Can be a long if this happens. http://prntscr.com/7ipfrv. This basically means that the downtrend (lower highs) has been broken upward. I hope that makes sense! Good luck!

GLNG Trade on Jun 16, 2015 11:51 from nicktrabs: Tradervue User Stock Trades.

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