Posted by frtaylor on 21st of Sep 2010 at 03:37 pm
Matt, Steve, or anyone else - I'm watching the SDS, waiting for
a trade signal from the 60 STO. Given that the 60 STO on the 30 min
is going to cross before the one on the 60 min chart, does
this simply mean the former is a quicker trade while the latter a
longer swing trade? How to think about these two charts and trading
the SDS?
Like you I am watching and waiting to go long SDS. I am
using a move above 20 on the 120 stochastic on the 30-min chart as
my trigger. A price B/O above 30 seems like a good trigger as
well. With the 38.2 fib. (32) as a target, and 29.50 as a
stop, the risk/reward ratio on this trade looks attractive.
Of course, with the market doing what it is... neither of these
triggers may ever execute!!
Listen to Steve, that is very good advice. I havemade more money
tonight than the rest of the month simply by keeping it SIMPLE.
Trade of mager support or resistance like the 15min $SPX chart that
Steve showed(forming a channel). Keep a stop above or below
channel. Tried crossovers,divergences,and........ does not always
work. Another simple thing I use is a reversal candle. My stop is
the breaking of the high of the reversal candle.
We have a reversal candle today, so if you are a swing trader I
would put my stop at the breaking of the high of the reversal
day.
I suggest you focus on the 60 minute chart with regards to the
60 period stochastic or short into resistance if trading short
term. For example, I posted the 30 minute channel PRIOR to
the FOMC news and the SPX stopped right at resistance.
SDS trade - 60 min vs 30 min
Posted by frtaylor on 21st of Sep 2010 at 03:37 pm
Matt, Steve, or anyone else - I'm watching the SDS, waiting for a trade signal from the 60 STO. Given that the 60 STO on the 30 min is going to cross before the one on the 60 min chart, does this simply mean the former is a quicker trade while the latter a longer swing trade? How to think about these two charts and trading the SDS?
SDS Trade
Posted by dwiskow on 21st of Sep 2010 at 07:24 pm
Like you I am watching and waiting to go long SDS. I am using a move above 20 on the 120 stochastic on the 30-min chart as my trigger. A price B/O above 30 seems like a good trigger as well. With the 38.2 fib. (32) as a target, and 29.50 as a stop, the risk/reward ratio on this trade looks attractive. Of course, with the market doing what it is... neither of these triggers may ever execute!!
Listen to Steve, that is
Posted by kobie on 21st of Sep 2010 at 03:58 pm
Listen to Steve, that is very good advice. I havemade more money tonight than the rest of the month simply by keeping it SIMPLE. Trade of mager support or resistance like the 15min $SPX chart that Steve showed(forming a channel). Keep a stop above or below channel. Tried crossovers,divergences,and........ does not always work. Another simple thing I use is a reversal candle. My stop is the breaking of the high of the reversal candle.
We have a reversal candle today, so if you are a swing trader I would put my stop at the breaking of the high of the reversal day.
Reversal candle on SDS?
Posted by darnelds on 21st of Sep 2010 at 04:53 pm
Reversal candle on SDS?
Nice, thank you.
Posted by frtaylor on 21st of Sep 2010 at 04:05 pm
Nice, thank you.
and...back below again
Posted by frtaylor on 21st of Sep 2010 at 03:40 pm
I suggest you focus on
Posted by steve on 21st of Sep 2010 at 03:44 pm
I suggest you focus on the 60 minute chart with regards to the 60 period stochastic or short into resistance if trading short term. For example, I posted the 30 minute channel PRIOR to the FOMC news and the SPX stopped right at resistance.
UPDATE - 30 min chart STO just crossed
Posted by frtaylor on 21st of Sep 2010 at 03:39 pm