MAN Group Short

[owl1963]

I noticed Man Group EMG failing to penetrate the 20 day smoothed moving average today. On a candlestick chart, two high wave candles with evidence of resistance around 1400-1410p. I have started a small short position from 1385p with a tight stop...
Anyone else following this one?

 

[barjon]

I noticed Man Group EMG failing to penetrate the 20 day smoothed moving average today. On a candlestick chart, two high wave candles with evidence of resistance around 1400-1410p. I have started a small short position from 1385p with a tight stop...
Anyone else following this one?

owl

It's been swinging well. 1398 (dotted red line) is the next potential swing high but, for me, I need to see a close below the low of the swing high bar (1329) to confirm. I doubt I'll add anything here, though, since sma15 has turned up. In the other direction, I'll be taking profits if it regains 1400. Think your tight stop is probably wise (but then what can you expect from an owl )

good trading

jon

edit: don't know what happened to the chart as it flew through the ether - the "change of trend" text box got shifted over by about 7 bars

 

[Fluke]

Barjon.
I notice you use EOD Sharescope charts and so do I, and have done for some time now.
I have been experimenting with sma's on my EOD charts and have been using 34 and 55 (FibsNo's) sma's.However I find these do not get me in near enough to the change of trend and am currently trying to decide which sma's to consentrate on.
I would be interested to see what your opinion is and what would you recommend,I notice on the above EMG chart,(post No 2 ),you appear to be using 15sma and this gets you in closer than my 34 sma.
Hope you will reply.
Regards Jon.

 

[tomcat]

i trade this one alot...

too soon to short... there are a couple of signs of weakness as it hits a resistance area, but there has been some buying today.. so i would wait abit for confirmation.

 

[barjon]

fluke

I don't work from the sma as such. It is only there as a filter - I want to see it rising for a long entry (signalled by taking out the swing bar high on the close) and vice versa. Something pinched from the Rivalland method.

Using emg as an example. I would have added to my short on the continuation signal (red circle) but sma was rising, not falling, so no deal. Covered my original short when it poked above 14 yesterday where my addition, should I have made it, would have been stopped out as well.

cheers

jon