I changed the blue line to a 5-period SMA of the pivot (H+L+C)/3. This gave a couple of divergences in the afternoon near the VWAP line after the energy market close, and then later near the day's high.
Charles
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Hello Charles,
ReplyDeletemy downside support 913-903 was hit where I covered my swing shorts and I am long from 904.25 with a stop at 895.00.
I still think what I wrote to you last week is the theme here..... the upside hurts most mkt. participnats at the moment.
Nice swing trading MAX. Do you trail your stops?
ReplyDeleteCharles
with daytrading no but yes with swingtrading.
ReplyDeletesince my target is 924-29 I will adjust accordingly..... lower my profit objective or reverse. I mostly leave the limits alone during the first 48h of a swingtrade to see if I am right and maybe can ride a trend. For me it works not to have too many profit objectives and let the mkt. take me wherever it wants ... this helps with the old theme of letting your profits run... by having too many targets it confuses the idea of acting in your own best interest. Daytrading is different ...
my goal is to make 500-750 USD per day trading
2-4 lots but here I go for 1,2 or 3 point moves and try to keep my stops to about 1 to 2 points depending on the daily Vol. I take about 8-10 trades on an average day.