Textbook Bollinger Double Bottom "W" set-up

http://stockcharts.c...amp;a=227342891

the chart says it all.

Good set-up, nice support level to get out of the trade at should it fail

It's all about risk/reward.

My best were placed this AM.

It does not look good on the "hourly" chart!!!

http://stockcharts.c...amp;a=227342891

the chart says it all.

Good set-up, nice support level to get out of the trade at should it fail

It's all about risk/reward.

My best were placed this AM.

It does not look good on the "hourly" chart!!!

http://stockcharts.c...amp;a=227342891

the chart says it all.

Good set-up, nice support level to get out of the trade at should it fail

It's all about risk/reward.

My best were placed this AM.

you're right, it's getting ripped apart now that it broke 30.10

I have great timing that way.

"Buy when the market tells you, sell when the stock tells you." -- Kennedy Gammage, once the keeper of the McClellan flame.

The market tell, if you're aggressive, will be the low above a low on the NYMO (otherwise, the NYSI context). You'll have to decide what the stock is saying for yourself. Maybe when it goes outside the upper Bollinger and come back inside? Or dropping through the middle Bollinger? Or? Or? Or definitely -- if the stock has not given a sell and the market has, sit on the edge of your seat, tighten the stop, whatever, because the odds are huge in the end if nothing else can slam it, the market in decline will likely shoot it down (not always, but often).

You have some hope right here because the rubber band to the downside is stretched pretty much as tight as it can get. We may get the start of a bottom any minute.

Good luck.

P.S. By the way, Sherman McClellan is a far greater market tech than John Bollinger (McClellan can read the madness of crowds) but Bollinger deserves much credit for his work too.

http://stockcharts.c...4713&r=8967.png

Nicely played.