Chris, I am sorry you have not been reading by posts. VLO broke out thru a Symmetrical Triangle. It formed a Two White Sodiers candlestick formation which is bullish. However, there are usually 3 soldiers. I mentioned there was a Rising Wedge that had enough wiggle room for another candlestick. On Friday, you then got a 3rd White Soldier making it Three White Soldiers, but then that last soldier turned traitor. It looks like he is going to shoot them dead on Monday. We will have to wait til Monday to see if he kills them............I see red !
Thanks, getting ready for a knee replacement, and not looking forward to it. The chart to the right of this MB also indicates there is a Rising Wedge chart pattern. This is a bearish
chart pattern, and it usually plays out about 80% of the time. There's still enough wiggle room to fit another White Soldier between the trendlines, but I think it will be short or it could be a reversal candlestick. Google "images of a Rising Wedge," and you will see the damage one can cause. GL
Sorry vpapandr. Had to see my cardiologist today, and I was there most of the day. Don't be kicking yourself. Don't ever have regrets. What's done is done.
It looks like VLO got another White Soldier candlestick. You can see it on the 3 mo d chart. There are usually 3, but sometimes there might be only 2. I am smelling a momentum shift to the downside. If we get it, I am thinking 62.01 as there is strong candlestick support in that area, but 60.57 is also possible.........to close a gap.
Remember, VLO remains bullish, but there are always momentum shifts, and smaller chart patterns to play.
I am still long, but that could change pretty soon. As for Hawkie. He probably went hunting for shorts. I better hide.
Thanks, jet. Gaps are filled 95% of the time. It doesn't matter how long it takes. It just happens. Just look at MU. It filled gaps just recently that occured in April 2014. Watch & see if the one at 13.57 gets filled.
Anyway, I am long on VLO at this time, but please read my new thread "WHOA".
I don't like the look of that pattern on the chart to the right of this MB. Also the EOD candlestick (cs) on the 3 mo d chart is a long cs. They are often followed by a reversal cs. 80% of the time, it will be an Evening Star or some other bearish cs formation. If it is, VLO will likely move down. 20% of time it could be a Two or Three White Soldier cs formation. Then VLO will move up. It depends on how it opens tomorrow. I am still long until I see what happens in the morning.
Thanks, emmachatman. I usually do, but I cannot lie. I took a small loss, but I tripled my next play to make up for my loss. Hey, but I hit a homerun with MU which I shorted from 36 to 19.56. That's a 16.44 per share profit.
I'm drowning..........ahhhhh..........blup !
LOL, went long at 60.15 when it broke thru a Symmetrical Triangle, but I think it's time to go short. Sure would be funny if that candlestick turns into a Shooting Star. Yawn.......think it's time for my nap.
Not only that, but I bet he's going to be barfing what he had for breakfast, lunch, and dinner..........
Greece again. It just doesn't go away, right hawkie? Har har, har-hardee, har har. :-)
Thanks, aviacionado. MU has gone parabolic. It also has a Round Top. At this time it is oversold. If you buy it, I would just play it as both a Parabola and Round Top can cause massive destruction. They could both go to 5. There is an open gap a 13.57. I have a new trend line now pointing to 14.90.
Whoa, are you serious? You can just go online. There is a wealth of information there.
1. First learn to read Japanese candlesticks. They are leading indicators.
2. Learn to recognize chart patterns.
3. Learn about moving averages.
4. Learn to draw trendlines.
5. Pick your favorite indicators
6. Learn about gaps.
Now, you're ready to go. No need to pay for any courses. No need to pay a lot on books. I own only 3.......one I bought at a half price book store which got me started.
Most definitely. However, you need to pay attention to the markets, also. If they go, so will VLO as it is not strong enough to stand on its own.
As mentioned before, as long as VLO remains inside the Rising Channel, then it is bullish. However, the H&S inside the RC warns that there is a possibility VLO could reach the bottom trendline located at 54.50. If the H&S reaches 54.50, then this area needs to be watched carefully as the H&S has the potential to break thru a trendline.