Swing and Position Trading

Jul 1, 2003
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#31
Hi Folks,

This is my first post as a newb on the swing trading scene. Im wondering if you guys can share any systems or TA techniques you find work well?. Im thinking of using a combo of S/R levels, MACD and CCI. Any thoughts?

Also any chance of posting potential trades and the reasons why, regularly?

Cheers

P.S. being a newb sucks :eek:
 

techst

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Nov 28, 2003
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#32
Im a massive fan of Dr. Elder read his books Trading for a Living and Come into my Trading Room first and see what ideas you can come up with. There's so much to learn in those pages and so much wisdom.
 

pkfryer

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May 19, 2004
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#33
Have to start somewhere jayzee, just make sure your transition to being an experienced trader doesn't cost much. Dont rush in to trading, learn and practice! I recommend Dr Alexander Elders books too, they are my favourite and most helpful.
 

techst

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#34
CW and BAY (again)

Another update on these charts provide some good viewing. After the leg upward shown on previous posts these two now provide opportunities to enter on the current retracement. BAY has already started its next move upward and trading from here and getting a good price on entry maybe be tricky. Although hiding yourself in and trading in the next bearish candle might be an idea, but i'll see how these this pans out. CW has retraced nicely and getting back in looks like a good idea. I'll be waiting for some strength before that happens but a bullish engulfing or piercing candle with some good volume would be ideal. Mark Rivalland talks about these buy signals in the latest investors cron. Calling them linear phase signal being some of the best times to trade, which pop up once or twice a year. And although his lenses are different (P+F charting) the ideas are the same.
 

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barjon

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May 6, 2003
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#35
techst

The same two from a slightly different perspective but in accord with your summation. BAY already given long signal (close above white line) and CW poised to do so.


edit: oops, just noticed trend change for BAY could be said to be a bit lower around 215 - swing pullback the same tho'. Sorry for that, these two aren't in my stable :eek:

jon
 

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roguetrader

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May 29, 2003
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#36
barjon said:
techst

The same two from a slightly different perspective but in accord with your summation. BAY already given long signal (close above white line) and CW poised to do so.



jon
Forgive my ignorance, I am not a swing trader, but why does a close above the white line give a buy signal? On Bay that is.
 

techst

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#37
roguetrader, from barjon's view (and please correct me if i'm mistaken barjon) this is some short term resistance which lines up with the 220 price level. And i would also use this method before i jumped in. A one day close with good volume or a two day close above the 220. For me, i'd be using my 13EMA moving or ticking upward with a two day close, as shown in my BAY chart. I didn't catch this one,as my money management rules dont allow me to be in every trade available.
 

roguetrader

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May 29, 2003
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#38
Thanx for your reply techst@, I see the resistance you refer to, just volume looks a little light as it initially breaks that level.. Not trying to pick fault, my own swing trading efforts leave a lot to be desired an am trying to pick up tips and ideas from those of you who trade this style successfully.
Thanx
 

barjon

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#39
rogue trader/techst

The white line is at the high of the swing low bar. I get a buy signal when there is a close above that, which occured 3 bars later and I would have entered the next day (penultimate bar on the chart) if I was trading this one. The more agressive would enter as soon as the price moved above the high of the swing low bar (that white line) which occured the next day.

jon
 

roguetrader

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May 29, 2003
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#40
Thanx guys I appreciate your input.
 

barjon

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#42
techst@ said:
Anyone got any interest charts and ideas to share?
techst

Here's a couple that have been pretty reliable swingers in the past (both up and down) and after a messy period they may be about to resume their smoother ways. AVZ if the market keeps up or GUS if it turns down (but there's that black support line coming from previously well tested resistance to confuse things).

How do they look on your charts?

jon
 

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techst

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#43
AVZ and GUS

GUS is a stock thats always been in my watchlist and is looking like a good set up to trade. But I cant trade everything so i'll let this one pass. Theres nice rising volume when it reached 860 870 on my charts which helps. But for me its a bit of a skinny rabbit in terms of how much you can get out of the trade. Say you get in around 880 for me a short term target is the last high, so 910-920. Which is a 30-40 point move. Not counting slippage, 30-40 on a stock that price isn't a great percentage to be taking out of a swing. I like to trade fatter rabbits lower priced with bigger percentage swings in price. Catching less of the move and getting a good profit is still possible on the lower priced issues. The two longer EMA's on the chart show a value area which i like to buy in or around, and on my daily everythings certainly in gear. Its gonna be interesting to watch that one progress.
AVZ, not too keen on this one, looks similar to many others stocks price patterns at the moment like BAY, CW, GKN, CKSN. 320 may be good support but i would'nt bet on it. Its a stock that i'll watch from now, but wait for the next retracement before entering. The Weekly MACD is in gear confirming a more dynamic upward move, but im still fully committed and need a stock to move to area where i can use a break even or micro profit stop. So even if the 320 area doesn't hold 310 might be the starting point. Each to his own though. Thanks for sharing that one.
 

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barjon

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#45
mmm, I was thinking of GUS in the other direction!! It made a new swing high today (potential) which would give an entry around 880 with target around 826 - 800. That nearby support area is a worry - even though the line's been broken it's not by much. Secondly, I won't go against the 15ma trend of the market which is flat at the moment. If it pops tomorrow it probably won't satisfy all my conditions.