timwest
Short

YELP INC -YELP -Daily -Low volume rally back to KEY resistance

NYSE:YELP   YELP INC
339 5 6
Note how well YELP reacts to the key levels labeled "Key Hidden Support/Resistance" over the past year.

This setup is a rally back to where YELP reported earnings recently and will likely encounter some stiff resistance. Low volume rally back to key resistance in YELP has provided a low-risk entry on the short-side for a return back to 66 and 61.

71.50 is the strongest resistance area and 71.20 was reached at the high earlier this morning.

Look for volume to increase on any decline to confirm the trade is triggering follow through selling from those sellers who are lurking at the 71.50 area.

Tim 11:36AM EST, 8/12/2014 70.25 bid-70.48 ask YELP
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
Thank you
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My wife has been following your charts, last 32 have been almost exactly 50/50.

Still possible to make money on those, because of the risk to reward ratio. I was just surprised by her finding.
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timwest PRO HermanBrummer
Thanks for the calculation! I have been pushing hard for TradingView to do the calculation for us so the most profitable trades and traders over 1-day, 5-days, 30-days, 60-day, etc would float up to the top of a list. As for my 50/50 results your wife has calculated, I would expect to be around 50% for 100 ideas but factoring in the size of the winning trades versus the losing trades is indeed what matters most. Expectancy is = P(W)*(AW/AL)-P(L) and then multiplied by VOLUME of trades. The more trades, the better chance to achieve the expectancy.

A big question for you: Would you like to make a google docs spreadsheet to share with me, I'd love to see it! On a similar path, I am making a "marketocracy.com" account to track a portfolio of the ideas that I put on TradingView. I can only do longs in one portfolio and shorts in another, but it is the best portfolio analytics program that I have known for 5 years. I'll put my link at the bottom of each chart at some point, pending approval by TradingView to link to another site.

Thanks for the input - I am glad that you have shared it with me.

Tim
+1 Reply
Looks like YELP is up to the next hidden earnings level. Perhaps worth a re-look.
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Indeed and thanks!: Check out GOOGL at resistance also. PCLN also tested and turned down from a key level. TWTR is moving higher from one. Lots of good signals from the "hidden earnings levels". Maybe I'll start a chat room for the topic...
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