If you had to trade based on this chart, what would it be?

I use NinjaTrader to develop strategies which sole purpose are to collect data (extracted from historical data) into .CSV files, that I analyze in Excel.

I have a webinar on my website (in the middle of the systems page) and a couple more in the NinjaTrader 3rd-party add-on channel on YouTube in which I provide a fair amount of information on the market-model & statistical analysis used by CL151.

Although totally outdated, Toby Crabel's Day Trading With Short-Term Price Patterns and Opening Range Breakout is an interesting read.
 
Yasir said:
Trying to get comfortable with Bollinger Bands. Is that how I should be treating them in my analysis? Please provide you comments as to what would your move be from here?

It doesn't matter if one is wrong, just want to absorb the thought process here.

Thank you...View attachment 145764

(did not reveal the stock name so we can purely base decision on the indicators shown here)
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Well assuming thats a big bank/finance like AIG, BAC UBS,KEY,ZION, C,;
10 year candlechart trend is DOWN.IBD[investors business daily] composite ratings are horrible for AIG ,KEY,UBS, C,BAC. ................................................Assume all my info is true; it is; chek it out for yourself.
; good short, early short

Frankly you did not give me enough info so i supplied some more info.As an educational example same sector WFC is bullish on 10 year charts. So see why i told you ''more info'' In other words C[citigroup] shorts usually make money.frankly WFC is a good long if the sector was not so bearish,.LOL

Wisdom is profitable to direct;NOT a prediction
 
It is a LVS chart. Not sure if your analysis above changes.

Q4 is usually a seasonally strong quarter for gaming industry.
 
Fun to look at and guess. But for me honestly it wouldn't be of much use. I always look at multiple time intervals (a common practice among many traders). I've found it very helpful to use the direction of momentum (not trend as many do) to be a filter to keep me out of otherwise good looking trade setups.
 
Agree with above posters who stated a single chart is insufficient information.

Not to mention, you didn't state What type of trade: Scalp, intra-day, position, swing, long term?

Is the instrument correlated with its index?

Would your entry coincide or fade sector?

Is instrument, sector, overall market aligned?

Does your intended entry point coincide with multiple areas of interest?

Have you determined your target, what and where the "trade" is invalidated? Entry alone is insufficient.

Many variables in making a "trade".

BB along with all the other "calculated" indicators are excellent in one thing, showing you what happened in the past.

Personally I don't use calculated indicators, other than 200 sma , fib 50% & 60% retracement points on daily charts for reference. Intra-day I may use 9/20 sma for reference. Discretionary lines, 50%/62% retracement I reference on all time frames.

I prefer clean uncluttered charts, and let price action and volume be my guide.

BB's, MACD, RSI, Stochs, etc... I tossed out years ago.
 
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