Showing posts with label price channels. Show all posts
Showing posts with label price channels. Show all posts

Wednesday, November 23, 2022

Some recent entries and current watchlist charts

I have a number of specific rules which govern the type of price set ups I look for. To help me identify these I have developed and refined scans over a number of years.

My original scan codes only identified price breakouts at the point they occurred. This meant I had to be in front of the screen and see these pop up in real time so that I could get in close to the breakout level. I've now been able to re-code these so I can identify these set ups prior to breakout.

This enables me to enter stop orders on a Good Til Cancelled basis on the market open.

Thursday, April 17, 2014

Could you trade like this?

Supposed you were presented with a chart that looks like those shown below. Could you trade off of it?

To a trend follower, the answer would be yes. The price channels clearly show any entry and exit levels, as well as the direction of the trend.