I used MACD Hist, 20 and 25 MA as a guide and L2. I know 25 MA is not commonly used but I like to adjust my study settings away from the the common numbers. If everyone uses 20 & 50 they all get the same signals at the same time. Depneding on how agressive or conservative I want to be with my open/closing positions, I will adjust the MAs accordingly. I still watch the basic ones that everyone else used but add a few others into my chart.
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Trading Journal - June
- Thread starter Seanote
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I used MACD Hist, 20 and 25 MA as a guide and L2. I know 25 MA is not commonly used but I like to adjust my study settings away from the the common numbers. If everyone uses 20 & 50 they all get the same signals at the same time. Depneding on how agressive or conservative I want to be with my open/closing positions, I will adjust the MAs accordingly. I still watch the basic ones that everyone else used but add a few others into my chart.
Pull up a one yr chart and look at many times 45.00 support area is tested. On a very agreesive support @44.50 (the FINAL possible support) is broken, this stock has at least a 10 point downside. You can play this long off the bounce or short with the break thru of support with tight stops each way.
Regarding KLAC trade and most other trades.
It's called fading. That's all there is to it. As Tntneo rightly pointed out elsewhere, MMs and specialists have been doing it for ages. It works most of the time, specially on short time-frames, with exception of few days when market is one-way street up or down.
Seanote, you are right, observation was based on two days only, but these days are rare that's why I said I saw a pattern. If you ask me was the statement supported by statistically significant sample I would, of course, say no.
P.S. DIS another example of fading in a larger time-frame.
Richard Dennis said There is a lot less to trading than meets the eye
It's called fading. That's all there is to it. As Tntneo rightly pointed out elsewhere, MMs and specialists have been doing it for ages. It works most of the time, specially on short time-frames, with exception of few days when market is one-way street up or down.
Seanote, you are right, observation was based on two days only, but these days are rare that's why I said I saw a pattern. If you ask me was the statement supported by statistically significant sample I would, of course, say no.
P.S. DIS another example of fading in a larger time-frame.
Richard Dennis said There is a lot less to trading than meets the eye
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