Swing and Intraday Set-ups

Discussion in 'Trading' started by Commisso, Jan 2, 2002.

  1. Commisso

    Commisso Guest

    I have gotten a few requests over the last few days to provide viable edges....

    Here is one that I have used for quite a few years now...
    Its very simply put an intraday entry against S/R levels in the direction of a larger TF trend...

    I often swing trade (multi-session) pullback/pullup set-ups on daily charts... I wait for a stock that is in a STRONG trend to pull back to s/r levels (fibs, moving avg.'s, prior s/r, etc,)... I then attempt to enter in the direction of the trend using intraday set-ups...

    Today I will go over a set-up off my morning hit list that provided an excellent low risk / high reward set-up... I personaly missed it, but for the sake of education I will attempt to explain the set-up...

    LGTO has been in a STRONG uptrend for the last few months...Over the last 3 days it has undergone a pretty normal correction which has the stock approaching a confluence of two support zones...

    The 20ema @ 13
    and the 38.2% retracement of the 12/04 low to the 12/27 high @ 13

    The confluence of these two zones could potentialy set-up an excellent opp to get long in the direction of the larger tf trend, if a low risk entry should present itself intraday...This morning the stock gapped up and ran with the rest of the semis, but soon right after the 10:15 reversal period made a move lower to test this 13 zone for the second consecutive day...The zone held and based for close to 3 hrs from 12:15 to 3:15...This base and the screaming NDX presented a very low risk / high probability (being that the market was rallying and tier 2's and 3's usualy lag and then catch on) and high reward trade...

    This is a good example of entering a larger tf set-up, intraday with low risk...

    PEACE and good trading,
  2. nice post

    Robert Tharp
  3. Commisso

    Commisso Guest

    Here is a look at the daily set-up...
  4. Commisso

    Commisso Guest

    Here is a look at the intraday set-up...

    As you can see the risk was very small and it followed the ndx just later....

    Exits are optional but I personaly peel a lil somethin off as soon as I have 2R (2 times risk) and then let the stock dictate the exit; with a target of the prior high on the daily...

    Hope some can find this stuff useful...

    PEACE and good trading,
  5. Commisso,

    Just to clarify, you mean the stock has retraced 38% of the move from the 12/4/01 low rather than the 9/04/01 low? I'm sure that's what you meant...sure looks that way to me. Great explanation in all other regards.....
  6. Commisso

    Commisso Guest

    Yes Datt that is exactly what I meant thankyou...
  7. lassiter


    Nice post. Thank you.
  8. liltrdr


    This is to anybody who wants to answer. Do these "set-ups" have any kind of edge?

    Head and Shoulders
    Double bottom/top
    Triple bottom/top
    A triple crossover of moving averages
    Stochastic divergences?
  9. aura0663


    Got into this about 3:30 after it broke the base-It is just screaming swing trade-Pristine scanner picked it out for tomorrow as well. I just love this chart
  10. Commisso

    Commisso Guest

    Thats great aura glad to see someone got into it :eek:

    I was busy managing other trades and missed it...

    PEACE and good trading,
    #10     Jan 2, 2002