Tony Beckwith
10-04-2007, 04:17 AM
Hi to traders in the European markets
UK FTSE100 component stocks M&S made a perfect Decision Point buy recently and is still open...
Found automatically by the Scanner (click 'Advanced' tab and tick 'ABC') it is an invalid Advanced ABC or TS4 as the prior trend CANNOT be extended further down to show the ABC as corrective...
HOWEVER, with price reaching the DP zone and STF divergence at the Buy bar, this is a simple, valid DP set-up...
Also, with more than +2x risk/reward potential at the opposing DP target...
Result: still open, on +2.8x profit.
Keep scanning for these set-ups if you trade a small universe (such as the FTSE100, DAX30, CAC40, S African Top40 and so on)....
Thanks
Tony.
UK FTSE100 component stocks M&S made a perfect Decision Point buy recently and is still open...
Found automatically by the Scanner (click 'Advanced' tab and tick 'ABC') it is an invalid Advanced ABC or TS4 as the prior trend CANNOT be extended further down to show the ABC as corrective...
HOWEVER, with price reaching the DP zone and STF divergence at the Buy bar, this is a simple, valid DP set-up...
Also, with more than +2x risk/reward potential at the opposing DP target...
Result: still open, on +2.8x profit.
Keep scanning for these set-ups if you trade a small universe (such as the FTSE100, DAX30, CAC40, S African Top40 and so on)....
Thanks
Tony.