Stocks Analysis Using Price Action
- Thread starter Gringo
- Start date
BBRY moves well. When it picks a direction it seems to continue instead of darting here and there. I had marked it some time back on weekly for longer term up move. Because of my focus on QQQ/NQ/Nasdaq I tend toward tech stocks so the moves towards the extremes in indexes might give a better chance of reward using stocks. I wasn't actually scanning through lists of stocks. AAPL, GOOGL, BBRY & Gold related indexes and that's about it.
This year was the experimental year with real money after a long break where I was fixing issues. It seems to be going well. A lot of time I've had good entries but panicked and exited before the move was over. This has been the constant theme this year. There is some ray of light at the end of the tunnel though.
The best part is my focus on things other than speculation. I am so involved with other stuff that the emotions of trading are reduced quite a bit. The point is this. I am positive, in control and speculation isn't the first thing in my life. As a result trading is easier, less time consuming, the account is growing and stress is lower. Will it last? I don't know but it's a good omen.
My setups are so simple that someone with the understanding of SLA should be able to understand them. Nothing fancy, nothing elaborate. Rinse and repeat. I also didn't even look at my P/L or account until the end when I was looking to exit. It gave me extra calm and I was for the most part at peace. Only when price started reaching dangerous levels did I feel a stir and then started liquidating. It's a journey where I am discovering myself as I go along the merry road.
Db had that story about the three journeymen that I had read a long time ago. It's becoming to make more sense why he had included that at the start of the documents.
It's strange that once the money is there it's hard to imagine the difficulty in procuring it, but once one doesn't have it it's so difficult to work and accumulate it. It takes lot of time and sacrifices to gather that little bit. Trading does have this power to increase wealth, but does require vigilance. I am glad at least I am at ease with the kind of trading I prefer. It's not overly involving but suits my personality. I am no big fish but the hope is that with a regular job this can add some juice to my assets. Worst case is that I'll lose this all but trading is not essential for my financial survival.
You were asking about BBRY and here I am giving the history of humanity to you! Until next time.
Gringo
This year was the experimental year with real money after a long break where I was fixing issues. It seems to be going well. A lot of time I've had good entries but panicked and exited before the move was over. This has been the constant theme this year. There is some ray of light at the end of the tunnel though.
The best part is my focus on things other than speculation. I am so involved with other stuff that the emotions of trading are reduced quite a bit. The point is this. I am positive, in control and speculation isn't the first thing in my life. As a result trading is easier, less time consuming, the account is growing and stress is lower. Will it last? I don't know but it's a good omen.
My setups are so simple that someone with the understanding of SLA should be able to understand them. Nothing fancy, nothing elaborate. Rinse and repeat. I also didn't even look at my P/L or account until the end when I was looking to exit. It gave me extra calm and I was for the most part at peace. Only when price started reaching dangerous levels did I feel a stir and then started liquidating. It's a journey where I am discovering myself as I go along the merry road.
Db had that story about the three journeymen that I had read a long time ago. It's becoming to make more sense why he had included that at the start of the documents.
It's strange that once the money is there it's hard to imagine the difficulty in procuring it, but once one doesn't have it it's so difficult to work and accumulate it. It takes lot of time and sacrifices to gather that little bit. Trading does have this power to increase wealth, but does require vigilance. I am glad at least I am at ease with the kind of trading I prefer. It's not overly involving but suits my personality. I am no big fish but the hope is that with a regular job this can add some juice to my assets. Worst case is that I'll lose this all but trading is not essential for my financial survival.
You were asking about BBRY and here I am giving the history of humanity to you! Until next time.
Gringo
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Bought puts on AAPL. Hourly was giving the signal, a subtle one though. I know 112 might get demand to show up but we'll deal with it when or if that happens. Weekly is around the median and might break down. Daily is neutral. Hourly is showing supply getting stronger.
QQQ is also close to upper trend channel. DL is broken and RET back up from 100. The push up was quite strong. Yet price isn't moving upwards and stalling a bit. Price is close to the upper channel and hasn't been able to go above the previous high yet and might be turning down.
AAPL has been acting weaker than the general index so that's why it was picked. It couldn't get closer to its previous swing high.
Gringo
p.s I really don't feel like typing much today.
QQQ is also close to upper trend channel. DL is broken and RET back up from 100. The push up was quite strong. Yet price isn't moving upwards and stalling a bit. Price is close to the upper channel and hasn't been able to go above the previous high yet and might be turning down.
AAPL has been acting weaker than the general index so that's why it was picked. It couldn't get closer to its previous swing high.
Gringo
p.s I really don't feel like typing much today.
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Just busy at work, and tired from staying up watching horror movies at night. End of the year. Many reasons to not explain all my thinking. It's the same process every time so I feel like it's a waste of time to keep saying the same things over and over again.
This is my first year without blowing an account and solidly positive. It's a respectable return of around 40%. Considering the few entries and exits here and there it's not earth shattering but for the effort involved it's not bad. Was happy to end the year on a positive note and then this entry showed up. Had to think whether end of year good record was more important or riding the waves. The answer became clear soon enough.
Thank you Db for all your help.
Gringo
p.s Yes, that 50% is correct. Now it all makes sense!
This is my first year without blowing an account and solidly positive. It's a respectable return of around 40%. Considering the few entries and exits here and there it's not earth shattering but for the effort involved it's not bad. Was happy to end the year on a positive note and then this entry showed up. Had to think whether end of year good record was more important or riding the waves. The answer became clear soon enough.
Thank you Db for all your help.
Gringo
p.s Yes, that 50% is correct. Now it all makes sense!
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very nice journal! i think I'm on the same road, however I'm not as patient as you and I hold my positions way shorter. but very nice, good luck for the next year!
AAPL Weekly:
Supply was the winner as price turned down before reaching the previous high. The drop was also sudden and fast. This shows an underlying weakness in the demand to halt the drop. Price is close to the previous low around 107 area which might act as a potential support here, but so far demand isn't showing much conviction. Bottom of the trend channel is also around 106, and something to keep an eye on.
AAPL Daily:
It's easier to see the drop and the speed with which price fell on the daily bar interval. Within two weeks price dropped the distance that took 7-8 weeks to climb. Again this is showing weakness. The potential support is marked here and it only becomes relevant if demand starts to assert with greater intent and starts letting supply know who's the boss.
AAPL Hourly:
Supply lines are showing clearly that the rate of acceleration towards the downside is increasing. Now 107 being a previous swing low it's worthwhile to stay alert here in case there are signs of price not continuing down. So far it's normal to expect price to go up somewhat as it's never a straight line drop.
Overall Analysis:
NQ is also not showing demand being strong as price is drifting down.
The bounce for AAPL has been feeble so far and the larger picture is pointing to the downside. I have emotionally a slight concern that the bull market has time after time turned price upwards throughout the past half decade and it just might do that again. I'll be alert to that possibility. In case price changes behavior and demands starts to become stronger I might exit the position or part of it.
Gringo
Supply was the winner as price turned down before reaching the previous high. The drop was also sudden and fast. This shows an underlying weakness in the demand to halt the drop. Price is close to the previous low around 107 area which might act as a potential support here, but so far demand isn't showing much conviction. Bottom of the trend channel is also around 106, and something to keep an eye on.
AAPL Daily:
It's easier to see the drop and the speed with which price fell on the daily bar interval. Within two weeks price dropped the distance that took 7-8 weeks to climb. Again this is showing weakness. The potential support is marked here and it only becomes relevant if demand starts to assert with greater intent and starts letting supply know who's the boss.
AAPL Hourly:
Supply lines are showing clearly that the rate of acceleration towards the downside is increasing. Now 107 being a previous swing low it's worthwhile to stay alert here in case there are signs of price not continuing down. So far it's normal to expect price to go up somewhat as it's never a straight line drop.
Overall Analysis:
NQ is also not showing demand being strong as price is drifting down.
The bounce for AAPL has been feeble so far and the larger picture is pointing to the downside. I have emotionally a slight concern that the bull market has time after time turned price upwards throughout the past half decade and it just might do that again. I'll be alert to that possibility. In case price changes behavior and demands starts to become stronger I might exit the position or part of it.
Gringo
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