RANGE @ a price level of an 8 P/E. The significance of $36 is that that level previously provided support on numerous occasions, before the collapse, however on the P&F chart the most congestion was @ $37. I'm gambling that the $37 level will be breached before the current move aborts(if it aborts). I hope retail sales numbers provide the catalyst to extend the current move.
turning your P&F technique backwards and buying on the sells and selling on the buy signals. That method would have given you decent trades this last few months. You had a "sell" at 30, which would have been a very good buy. Have you gotten a "buy" recently? Prior to the sell you had a buy at 35 which really was a reasonable sell.
What do you think?
My naked calls are wasting very nicely.
Why do you "gamble" that an easily recognizable resistance (the unfilled gap) will be breached?
In one of my numorous posts, I indicated that after a SELL signal, you get a throwback to a previous congestion area! It came and I didn't exit @ my initial $35.00 level or the $36 1/4 level. I got my second chance but as I posted I pulled the sell order. In my 34 year career in the securites industry, I have only used MENTAL STOPS! In most cases, you get your chance to exit on a rally to the previous support level.
P.S. I'm not the one who has expressed a disdain for your technical approach, so laughing at me settles no score. Missing the rally to $36, subjects me NOW to Ridicule! Oh well S is my only loser (except for HM) but even with AU GG.a has more than compensated me for the HM folly.