StockFetcher Forums · General Discussion · Don't Try to Catch Dead Top or Bottom<< >>Post Follow-up
snappyfrog
299 posts
msg #153603
Ignore snappyfrog
8/16/2020 11:54:35 AM

I see many people that try to catch dead bottom for entry and dead top for exit based on their scans. I have found that it is incredibly difficult to achieve.

A saying I always use is "I don't need the whole loaf of bread, just a few slices in the middle with butter please".

Here is an example of what I am talking about. Dead top and bottom produces too many head fakes and bad trades. Let the trend set up, enter and get out before you are surprised with bad news or a profit taking selloff.

Base hits every day wins the ball game!



Mactheriverrat
2,483 posts
msg #153613
Ignore Mactheriverrat
8/16/2020 5:11:35 PM

@snappy frog.

So true !

But looking at it from a Guppy perspective. Both Traders and Investors groups are strong uptrend. Investors group being really strong.

Who knows how far this trend may go up with some pullbacks I'm sure. Looking at past resistance and old support levels it could be sometime before a major pullback in the uptrend.

Remember the saying old support levels are the new resistance levels and Vice versa.

My charts for this are using line as the price to show the trends.







sandjco
648 posts
msg #153614
Ignore sandjco
8/16/2020 7:44:05 PM

@snappyfrog,

thanks for sharing!

Question: re: let the trend set up
what are the set up triggers in this instance?

thanks in advance!

Mactheriverrat
2,483 posts
msg #153616
Ignore Mactheriverrat
8/16/2020 9:24:27 PM

Separation of the 2 trading groups in BBBY case.

sandjco
648 posts
msg #153617
Ignore sandjco
8/16/2020 9:56:45 PM

thanks Mac! I actually saw this pop up on Guppies but didn't take the trade as I was biased against retail (duh!).

I was curious about snappy's setup as the screenshot didn't show guppies so I was wondering what he saw to take the trade.

tks!

snappyfrog
299 posts
msg #153640
Ignore snappyfrog
8/19/2020 6:37:12 PM

Sandjco my trigger on that trade was price closing above the EMA(13). Got out after it hit my target.

StockFetcher Forums · General Discussion · Don't Try to Catch Dead Top or Bottom<< >>Post Follow-up

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