Monday, July 21, 2008

Monday 7/21

In this post I want to point out that my work is not just about trading the 1 minute chart.

For slower daytrading, take signals on the 5 min macd and watch context of 15 min chart.
For 2-3 day option trades, take signals on 15 min macd and watch context of hourly chart.
For slower swing trading, take signals on hourly and watch context of daily.
For longer term ETF (for me long term is 2 weeks +), take signals on daily and watch context of weekly.
Of course if you want really long term, next step is pretty obvious - signals on weekly with context of monthly.

I offer an integrated view of intraday, swing and longer term trading. The small movements inform the larger ones. Trade what you like, and watch how planets move markets.

* * *

Call - "Watch for 76Rs and 138Ps. If price starts dropping, short; support may not hold."
Result - 12:00L with 1 point of 76R of 2 day range; LOD 76R exact.

Call - "Key general change after 1:15; if [stocks] up, momentum may slow. If already down, additional down pressure. However, this may not take effect on the minute. Watch markets for possible slowing or down."
Result - Key high 1:36 (just 1 1 minute bar) then down.