NOFRILLS Chart Reading

4

4XIS4U

Hi, I'll be posting some annotated charts on this thread and would like to get some feedback on it.

This is suppose to be a healthy discussion.

My methodology:

- Swing trade
- Price and Volume are the most important things to me -- indicators come second
- I will sometimes use an oscillator to confirm top / bottom divergences
- I find Joe Ross method very objective -- will refer to 1-2-3 and Ross Hooks formations from time to time.

I've only been trading for 3 years and this is my first profitable year.

I FINALLY HAVE A PLAN which is follow strictly.

DISCLAIMER: You should not make trading decisions based on my analysis.

here we go...

Longs

05052005_AEIS_Weekly.png

05052005_PFE_Weekly.png


Shorts

L_TO_Weekly.png

XLE_weekly.png
 
hey dude, nice post. I notice that you know your tech analysis. I agree with all the recommendation you made so far. So let's hope you make money . cheers :D
 
Shorts


XLE_weekly.png
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Volume tends to start, and end, a move. Depends if this recent high volume is a continuation, or a reversal. XLE bounced nicely intraday from just below $39 twice, and appears to recover today.

Look @ Daily 100 day Simple Moving average for XLE, it bounced off of it nicely ($39.97 level). And off the Weekly 20 day SMA @ 40.37. That is some strength to me, at least in short term

I often use the 100 SMA, for example CME bounced hard off of the WEEKLY 100 SMA.
 
AEIS, gonna take some advance energy to break that hi, vol diminishing, any news upcoming?
http://stockcharts.com/def/servlet/SC.web?c=aeis,uu[w,a]daclyyay[dc][pc9!c18][vc60][iLp10,3,3!La5,13,6]&pref=G

PFE, entering congestion, any news, gotta pay attention to sector here http://stockcharts.com/def/servlet/SC.web?c=pfe,uu[w,a]daclyyay[dc][pc9!c18][vc60][iLp10,3,3!La5,13,6]&pref=G
safe haven sector?
L.TO http://stockcharts.com/def/servlet/SC.web?c=l.to,uu[w,a]daclyyay[dc][pc9!c18][vc60][iLp10,3,3!La5,13,6]&pref=G
the short was at 75
TLWT, eps may12, be careful unless you know something http://stockcharts.com/def/servlet/SC.web?c=tlwt,uu[w,a]daclyyay[dc][pc9!c18][vc60][iLp10,3,3!La5,13,6]&pref=G

AAPL, was ashort @ 42, will be again @< 35 http://stockcharts.com/def/servlet/SC.web?c=aapl,uu[w,a]daclyyay[dc][pc9!c18][vc60][iLp10,3,3!La5,13,6]&pref=G
Well, you did ask.I don't play individual stocks anymore but when I did these would have been my observations.
Unless your holding for weeks tighten up your game and use dailies for TA , weeklys for macro. Also look at cash indices daily charts and appropiate sector charts. They can give a good over view of money movement. It's all about following the money.
 
I only look at the 50sma and 200sma only because of their psycologycal bias.... they don't represent anything more than that in my trading plan....

:cool: sorry
 
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