Wisdomtree Gold Discussion Threads

[mr_bluesky] 03/1/2013 09:26

IGAS:

OK!

Today is the first part of the flag set up as suspected.It could take a few days to form or even a couple of weeks so now is the time to monitor the situation and look for signs of a renewal to the rally.

Mr Bluesky

[mr_bluesky] 02/1/2013 18:54

IGAS update:

Has now risen from c70p to 150p in a high flag pole so I would expect a flag to set up as the rise has been around 100% from the base.

Mr Bluesky

[mr_bluesky] 27/12/2012 16:39

IGAS:

Looks to be in a high flag pole right now at c113.5p so I would expect the flag to set up soon,but the pole may extend a little further yet.

Mr Bluesky

[mr_bluesky] 20/12/2012 19:15

ALERT!

IOF has set up a high flag pole over the last few days form just below 65p to just over 100p.

Today it has pulled back from the intraday high and along with the volume it would signal that a bullflag is about to set up.

Mr bluesky

[mr_bluesky] 20/12/2012 16:36

Well its time to post this chart again as TCG has broken out of the high and tight flag ready to set up for the next leg up which should,if the theory goes to plan,be cerca 60p......

TCG chart 07/12/12:

[mr_bluesky] 19/12/2012 09:40

PTO:

This looks to be setting up a high flag pole!

I would say that the flag should start to form this week for confirmation.

Mr Bluesky

[mr_bluesky] 17/12/2012 10:22

RPT:

Is another example of a high and tight flag which has exploded out of the formation in a dramatic style.

Mr Bluesky

[mr_bluesky] 17/12/2012 10:18

MTC chart 12/10/12:

Just thought i would post tihs earlier chart of MTC predicting the breakout to 303p.
where the high and tight flag then fully formed.

Mr Bluesky

[mr_bluesky] 17/12/2012 10:07

MTC chart 14/12/12:

THE FORMATION:

Here is the MTC chart showing a High and tight flag and the break out from it.

It shows that MTC rallied from 211p from a base to the closing high of 305p.This formed the high flag pole.

The flag then formed in a period of consolidation with a low point of 287p.

THE ENTRY:

What the trader does now is wait!

Wait to see a break out of the 305p high preferably on higher volume and with a white wide range candlestick or even a gap up.That will be your entry point.

THE EXIT:

To gauge your exit you will need to project the hight of the previous flag pole up from the lowest point of the flag,in this case,287p.This will take you to a target of c382p which is normaly the maximum rise from a H&T flag break out using the hight of the previous flag pole as the gauge..A usefull tip is to look at historic support and resistance for confirmation that a rally may well stall at this point and in this case there has been support at about that level,but be carefull as there is also horizontal resistence from further back at c360p.

As the price aproaches the 360p mark keep a check on the indicators i.e RSI,MACD,Bollinger,candlesticks,volume etc to gauge if the rally is about to stall so you can exit the trade.You could also set a sell order just under the 360p mark if you dont have the luxury of being able to get to the pc to often.This also takes the greed side of of trading as once your sell is triggered thats it,there is no holding on for that little bit more.If the price breaks through 360p then c382p would be the second target to monitor the price action.

OK! so that sums up a good example of a High and tight flag.They are very lucrataive to trade if you read it right and stick to the rules of trading such a pattern.

ATB

Mr Bluesky

[mr_bluesky] 17/12/2012 09:13

Update on High and tight flags:

I mentioned that TCG,THT and ETI were looking like they were forming high and tight flags.They are now 4 to 5 days into the flag formation so all is going to plan.

Another possible H&T flag is AGA and OCDO is also looking like it is forming a variation of a H&T flag which gaps up instead of forming a flag pole.It also looks to be breaking out right now.

I have traded MTC recently having predicted the break out from consolidation and having looked back at the chart it looks to be a good example of a H&T flag set up that has already performed.I will draw up the chart and post it for reference.

Mr Bluesky

[mr_bluesky] 13/12/2012 13:03

ETI and AGA are looking good candidates for potential H&T flags so I will keep tracking them to see how they form.

Mr Bluesky

[mr_bluesky] 13/12/2012 10:27

THT ALERT!

Looks like THT has formed a potential flag pole and is in the proccess of setting up a potential flag......Looking promising for it to be a High and tight flag.

Mr Bluesky

[mr_bluesky] 11/12/2012 09:17

TCG update:

Today looks to be the start of the flag!

Mr Bluesky

[mr_bluesky] 10/12/2012 16:48

TCG chart 07/12/12:

Infact I have just pulled this chart from friday as I suspected that a high and tight flag could be setting up.

My reasoning for the top of the flag pole being at about 40p is because it is roughly the top of a huge historic gap down and I thought it would come up against resistence there.

On break out from the first predicted flag I have a rally to cerca 60p which is another resistence point.Depending on how far the flag retraces it is also the projection of the hight of the first flag pole which is how you calculate the future rise on break out.

This is all just theory at the moment as it is still in the flag pole stage so all my comments are just potential and is my opinion based on my knowledge about what may happen.

Lets see if it plays out!

Mr Bluesky

[mr_bluesky] 10/12/2012 15:46

ALERT!

If you want to see a real time potential high and tight flag pole forming have a look at TCG.

It has had a rapid rise from 20p to 40p where it is now.

Look for a flag to set up any time soon!


Mr Bluesky

[mr_bluesky] 10/12/2012 14:40

Having just read through the link again(I do once in a while just to remind myself) It has reinforced a few pointers for me when looking for High and tight flags.

1) If the decline prior to the high and tight flag is steep and a "V" shape bottom forms then it is less likely to perform well.Best performers come from a horizontal(as near as) base or a slight up trend prior to the flag pole.

2) The best candidate for a H&T flag pole will form in less then 2 months and the best flags will be no longer then 3 weeks in formation.

3) The flag should form roughly at a 50% to a 100% rise from the low of the rally(pole) i.e if the rally started at 10p and a flag set up at 20p then it is a good example of a 100% rise.

4) Idealy the rally(pole) should form on higher then normal volume and the consolidation/retrace(flag)should form on lower volume.

5) The entry point is when the price breaks out over the top of the flag pole(Rally high) as a bullflag is only a potential bullflag until it breaks out.

6) A high and tight flag setting up within a 3rd of the 52 week high performs the best on break out.

There are many more pointers,but those are what I would consider the initialy important ones to be going on with.On break out the average gains for a high and tight flag are 69% and rapid.....yes you heard it right! So if you spot one they can be very lucrative.

P.S:

This thread is not just for spotting high and tight flags.There are many other types and variations so look out for those as well.

Mr Bluesky

[mr_bluesky] 10/12/2012 11:46

I am starting this thread because the Bull flag is the most reliable chart pattern and can result in some seriously rapid gains on break out.I have studied Bull flags for some time now and have seen for myself how lucrative they can be when trading them.It is very important to stick to the criteria and definition when looking for them,but when they are found it is suprising how well and consistantly they perform.

The above link is a perfect introduction to the Bull flag,the best performing variety being the high and tight flag,and if you are to take this thread seriously I would advise you to study the link in depth to get to know the Bull flag well.

The aim of this thread will be to hunt down the Bull flag by trawling through charts as I do on a regular basis.This is the only way to find them,but it does help if you use filters i.e Shares that are trending up over the 50dma,shares that are trending up on higher then average volume etc to help with the search.When you find a share that fits the criteria of a Bull flag post your findings and observations on here so we can confirm(or not) compare and discuss.

You know what they say! "Two heads are better then one" and multiple heads looking out for bullish patterns are better still.

To take part in this thread you really will need to be a chartist.You dont have to be a pro,but to know your way around charts is a must and feel free to post any charts of interest as I will be doing.

Good luck with your home work(reading and understanding the Bull flag from the link) and I look forward to your input.

ATB

Mr Bluesky

I

[big bad al] 18/8/2011 11:30

Also this guys got some content,

[big bad al] 17/8/2011 00:59

So this mike maloney says silver to reach $100 an ounce,,no brainer,well there is some interesting stuff on his website,or is it michael baloney.

[omigod] 06/6/2010 18:31

Good Lord there's not many posts on this thread!

[hectorp] 29/8/2009 16:22

So- expecting the rally to put on wings when the real Fund managers come back to the office next week.
Some analysis suggests fairly short term, Dow and SP500 should add 8%.
However the article above suggests simply adding strongly on any weakness.
Of course there is still a possiblility of double-dip, in which case we will be wrong footed!
H.

[hectorp] 29/8/2009 16:20

Aug. 28 (Bloomberg) -- U.S. stocks are behaving like Japanese equities in the 1990s, meaning the Standard & Poor's 500 Index may return 40 percent in the next year, according to Bank of America Corp.

The CHART OF THE DAY shows the Nikkei 225 Stock Average since 1980 and the S&P 500 during the past two decades, when adjusted for currencies. The Nikkei doubled between October 1998 and April 2000 in dollar terms, as the chart illustrates. The S&P 500 has risen 34 percent since March when the Dollar Index, a measure of the dollar against currencies in six major U.S. trading partners, is factored in.

A "melt-up" rally in the U.S. may be triggered by central bankers keeping interest rates near record lows, an economic recovery or an undervalued dollar, Bank of America strategists wrote in an Aug. 26 report.

"Even in economies overcoming credit booms, rallies can be powerful and last much longer than you think," Bank of America's Sadiq Currimbhoy, Arik Reiss and Jacky Tang wrote. Should the similarity between the U.S. and Japan persist, the S&P 500 will keep rising, partly because of gains in the dollar, the Hong Kong-based strategists said.

"If there is one persistent similarity between Japan and the U.S., it is they both seem to be fighting a debt problem by producing more debt," they added. "So, for equity investors, if these relationships were to repeat themselves, the risk for the U.S. market is that like Japan, the stock market ends up with big rallies and then sell-offs."