Swing and Position Trading

This is a discussion on Swing and Position Trading within the Swing & Position Trading forums, part of the Methods category; techst ok - first hg. Trend changed to up after moving above the high of the earlier swing high bar. ...

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Old Oct 11, 2004, 4:11pm   #9
 
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techst

ok - first hg.

Trend changed to up after moving above the high of the earlier swing high bar. The first swing low was iffy because it was lower low so I ignored. The second swing low (continuation) looked ok so I entered long @ 270. The third swing low came a bit early for my taste and is now being tested (not yet closed below it) so things look doubtful. I have a b/e stop in which has not been triggered yet.
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Old Oct 11, 2004, 4:27pm   #10
 
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techst started this thread HG isn't one that i would be looking to trade at the moment. But it's a great example of stock that's got good movement to trade. The swings are clearly visible and that's why its one of my favorites. The blue EMA on my chart shows the value areas i like to trade near. I'm not sure how long this trend will continue, but i'm sure there will be others that will turn up when this one regresses and takes a rest.
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Old Oct 11, 2004, 5:02pm   #11
 
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.....and then blnd

not in this one at the moment. It did well during its rise from around 400 level, although there were a few nervous moments and a few false stop outs on the way. It gave a repeat buy signal on Friday at 732 (my filter rules denied it) and if you got that today you'd be in the money by a few bob.

techst

do you have stable of likelies or do a full scan for set ups every week (or whatever)?

good trading

jon
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Old Oct 11, 2004, 5:31pm   #12
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barjon

Some questions if I may

1 What is the black line on your chart ?

2 What is the significance of the dotted blue line ?

3 Are these daily charts ?

4 Did you go long at 690 in mid-August after it moved up from support ( hindsight on my part )

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bracke
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Old Oct 11, 2004, 6:34pm   #13
 
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bracke

1. 15day sma (one of the filters - pinched from Rivalland)
2. dotted blue line not significant - just to prompt me that only one more lower low bar was needed for a
possible swing low - which didn't arise)
3. yes - daily chart
4. not in my stable at the time - the buy signal was a close above the high of the first swing low bar (the
reddish one that the blue line sprouts from) at around 701 you can see you might have got stopped out
intraday later on (the grey bar that dipped below the line) if you'd set your stop too close.

regards

jon
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Old Oct 12, 2004, 3:49pm   #14
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barjon

Thanks for the reply.

Another question...... How do you find you likely targets and do you stay with ftse 100 companies or look at ftse 250 companies. I know that mully used to consider that the ftse 250 offered better opportunities.

Regards

bracke
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Old Oct 12, 2004, 4:27pm   #15
 
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bracke

Use mainly ftse 100. No set method of selection just a visual scan each week paying particular attention to those near major support/resistance levels . I look for those who travel smoothly (not that they will do so in the future just because they have in the past) eg: avz was particular good both on the way up and on the way down before it got a bit volatile due to the fine it incurred. gsk has been good recently.

jon
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Old Oct 12, 2004, 4:30pm   #16
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Originally Posted by barjon
bracke

Use mainly ftse 100. No set method of selection just a visual scan each week paying particular attention to those near major support/resistance levels . I look for those who travel smoothly (not that they will do so in the future just because they have in the past) eg: avz was particular good both on the way up and on the way down before it got a bit volatile due to the fine it incurred. gsk has been good recently.

jon
barjon

Thanks for the reply

Regards

bracke
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