This guy has good trade set-ups within a free newsletter
including charts of the day to an e-mail address
Monday-Thursday evenings. Try and wait for pullbacks-bull or
bear flags or wedges to enter, depending on if they're long or
short set-ups. And he shows only daily charts,
look at the recommendations on multiple timeframes for divergences
and with stochastics to get a good entry on a lower
timeframe from a triangle or wedge pullback on the daily
chart.
Someone helped me with a great tip this week. They
said to wait until everything is aligned together coming from an
overbought or oversold point. For example, there were times
over the last week on the SPX or ERX 15 min. charts,
where the 60,3 and longer stochastics were crossing above 20 from
oversold, but the 14,3 stochastics was overbought and the RSI
was near the top. So those longer stochastics crossed up
then back down at least once when everything wasn't aligned, but
when it finally took off and held, the RSI and 14, 3 stochastics
had come back to the bottom, all indicators were aligned
together and turned up from under or near oversold
simultaneously. I'm taking from it that there are going to be
hundreds or thousands of possible charts or trades each year, but
to narrow it down to only taking the ones where divergence lines up
on faster and slower RSI and MACD, and mainly when shorter and
longer stochastics with the RSI and MACD all align
together and move in the same direction from either oversold or
overbought at the same time. Then the chances of
a profitable trade are greatly increased.
Thanks for that post and the comments related to it!
I am happy to see that the VVUS that I recently bought are there
at the end of the latest video, and the short-terrm predictions
that he made to it.
Patience is indeed a virtue and I should work more on it, that I
am the first to admit. Let's see if I am patient enough to stick
with VVUS up to mid-teens...
Technical Trader free charts
Posted by beth on 9th of Jul 2010 at 07:08 am
http://www.thetechtrader.com/chartofday/
This guy has good trade set-ups within a free newsletter including charts of the day to an e-mail address Monday-Thursday evenings. Try and wait for pullbacks-bull or bear flags or wedges to enter, depending on if they're long or short set-ups. And he shows only daily charts, look at the recommendations on multiple timeframes for divergences and with stochastics to get a good entry on a lower timeframe from a triangle or wedge pullback on the daily chart.
Someone helped me with a great tip this week. They said to wait until everything is aligned together coming from an overbought or oversold point. For example, there were times over the last week on the SPX or ERX 15 min. charts, where the 60,3 and longer stochastics were crossing above 20 from oversold, but the 14,3 stochastics was overbought and the RSI was near the top. So those longer stochastics crossed up then back down at least once when everything wasn't aligned, but when it finally took off and held, the RSI and 14, 3 stochastics had come back to the bottom, all indicators were aligned together and turned up from under or near oversold simultaneously. I'm taking from it that there are going to be hundreds or thousands of possible charts or trades each year, but to narrow it down to only taking the ones where divergence lines up on faster and slower RSI and MACD, and mainly when shorter and longer stochastics with the RSI and MACD all align together and move in the same direction from either oversold or overbought at the same time. Then the chances of a profitable trade are greatly increased.
Thanks for that post and
Posted by etcbari on 9th of Jul 2010 at 10:48 am
Thanks for that post and the comments related to it!
I am happy to see that the VVUS that I recently bought are there at the end of the latest video, and the short-terrm predictions that he made to it.
Patience is indeed a virtue and I should work more on it, that I am the first to admit. Let's see if I am patient enough to stick with VVUS up to mid-teens...
Beth -- yes, I learn
Posted by Michael on 9th of Jul 2010 at 07:14 am
Beth -- yes, I learn more and more that the importance of patience cannot be overstated.