GOPRO - Time to short

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The move on Gopro             is over-extended and I believe it is going to correct. I never trade new stocks, but since Gopro             is a new sensation here on TV I thought I'd post a chart. Climactic volume on the Weis Wave, and a false breakout, not too much, and definately not enough for me. Look for 70$, if that breaks, I think Gopro             is in trouble and 50$ is coming
What do you mean nothing on MACD - it was on the verge of going negative :)
Yes it was, but I never look at that. It is pointless. The simple fact that two moving averages are crossing each other doesn't mean anything. That is why I use the same length for all my moving averages, so they wont cross each other.
jangseohee vlad.adrian
Teacher, Moving Averages crosses is useful only for big trend, doesn't work for ranging, no?
MA envelopes also has its pros & cons i believe, looks a bit similar like alligator MAs.
vlad.adrian jangseohee
The problem is you never know when a trend is coming or a range is coming. I believe crosses of each kind are useless.
MA envelopes are very useful for swing trading
2use vlad.adrian
But how do you get to know an entry point then? What do you use for that?
Normally, first I would look at the weekly chart. The weekly chart here is useless. If I like how the weekly chart looks, I will look for whatever buy signal I see on the daily. If I don't like the weekly chart, but I see a daily signal, I will buy it, but buy it in small quantities.
Now strictly buy signals include double bottoms, triple bottoms, extremely bullish candles, MACD divergences, rejections of value with histogram uptick, support rejection, change in behavior on the Weis Wave. I think these are all. I have charts published with all of them.
jangseohee vlad.adrian
Totally agree with my Teacher-Vlad. Every technical tools have its own characteristics. Initially, it is about self-exploring process to check which few combinations that you find works for you, stick to it, verify and test it. Make the package your "Edge", meaning that integrated into your trading style. If you observe Vlad's sharing, he always use the various technical tools he has mastered. On and off, fine tuning is necessary.
+1 Reply
Like it. They just unveiled their next gen cameras with 4k - although I know how much you dislike fundamentals ;) Could be a classic by the rumor sell the fact.
Buna Ziua, teacher,
i purposely put my order at 96.34 and hurt myself momentarily until 98.34, i tend to jump the gun due to impatient.
But i am using your Class C divergence in MACD, only the histogram is lower a little while MACD still making higher high
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