Wednesday, November 17, 2010

Trading Charts Intraday and Long Charts

I use 5 min candle for Intraday and 1 day candle for historic chart.

I love Quote tracker where I have developed some paitbar which gives me signal for entry and exit, with the paint bar I use other indicators as you will see on the bottom of charts to make a better decision. For swing trade position, when EMA(5) stays above SMA(15) is a solid indicator and when price breaks below SMA(25) I wait for entry based on my paintbar.

I have attached 2 examples, 1st chart is for intraday and 2nd is with historice for symbol HND.TO.

Please send me an email if you have any questions. Thank you.

Sunday, February 21, 2010

Week of Feb 22

It was nice week overall with gold and metal stocks. I think HGD.TO will be good play for this week. DJ came back bounce nice as well in last week.

Market will be volatile, it is either consolidating for next breakout or we will see good correction in few weeks. So I am not taking position for longer period of time.

Happy Trading !!!

Sunday, February 7, 2010

DJ 30 at important level for resistance

DJ 30 got touchdown with EMA(200) resistance level on 3 yr chart, it has come up very fast from 6500 to 10000 level in short period of time. I enjoy this ride.....Time to be careful now....I will watch for EMA(12) cross over to EMA(200) for break out for long term and in short term swing trading market gives plenty of opp. every day to make good trades.

Gold was down significantly from all time high, I will play HGU.TO to make short term profits if gold shows some corrections which I think is very possible.

Happy Trading !!!

Tuesday, May 5, 2009

DJ 30 Chart breaking through Important Resistance

Check my new chart, In my post on Feb 4, the DJ chart showed EMA(72) acting as a solid resistance for swing trading point of view. On 24th April DJ 30 Index pierced through EMA(72), which shows a positive sign of market improving for swing traders, If index continue to go up chances of touching back to EMA(72)in short term is very high before bouncing back from this EMA(72) level.

Video - Mark Douglas - Mind Over Market

The following webpage plays a great Wizetrade TV video interview with Mark Douglas, discussing the probabilistic nature of the markets and the mindset challenges that prevent many of us from achieving consistent results.

Video is 54 minutes long, but worth to watch if you interested in learning mental chellenges in trading market.

Thursday, March 5, 2009

General Motors Corp., and ongoing uncertainty about the financial system and DJ

My DJ chart posted few weeks before showed the support @ 7200 which is now broken and DJ now is at 6673 now on intraday. Now it is not clear where the next support is because market so beaten up and big companies posting losses and all, I plotted few EMAs to find the next possible support. I can only see possible support is EMA(500)(I have never used EMA(500) EVER before, market never been so bad.)
EMA(500) is 6104. So If market keeps dropping, it may touch 6100.

Do Not Go Aginst the Trend..."Trend is Friend"

Friday, February 27, 2009

DJ level at very important support level

It is very important to monitor this level. Watch for the bounce or break down from this support. Indicators are showing it is very oversold, short term swing is very possible. Current market driven by news and political intervention, so please be careful. Do not go against the market.

Wednesday, February 4, 2009

How I day Trade ?

Many ppl ask me about how I do day SU made perfect setup so I thought it was good idea to share with you. Please see my trade in the attached picture.

I entered in SU yesterday afternoon at 23, when Nice candle formed crossing above EMA(5), decent volume, and most technical indicators crossover specially positive momentum from the last indicator. I got out of the position at 24.60 when on intraday chart most indicators were showing the chart as overbought.
This is a almost picture perfect setup where most ppl can male money if played correctly.
Happy Trading...