timwest

IR - Ingersoll-Rand BEARISH RISING WEDGE

BATS:IR   INGERSOLL-RAND PLC (IRELAND)
399 4 1
I decided yesterday to post this idea as a PAIRS trade against a long position in CAT, but IR was the inspiration for the trade in the first place.

I'd like to suggest that this is the proper way to draw regression channels as it is the only way that I have ever drawn them because it makes logical sense to me. The logic is that you diagram "uptrends" separate from "downtrends" and analyze them independently.

The "lowest close" is the simplest way to diagram. You can also use the lowest-low and have the regression use the lows for its calculations instead of the close.

Cheers.

Technical Tim, Wed, May 30, 2012 11:49AM EST
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
Agreed.
Reply
Bullseye!
Reply
The rally back to 41 provided a re-entry to this short position. Targeting new lows for this move... 37 target.
Reply
IR hit the first target at 39 - From this level the risk is equal to the reward and therefore I believe it makes sense to remove the position. Regards, Tim 12:24PM EST Monday, June 4th 2012
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out