Trade this Chart III

Discussion in 'Trading' started by inandlong, Aug 26, 2003.

  1. Trade this Chart!

    The yellow line is a 20 period sma. You are long from the green line. Protect your profits!

    Trade this Chart!
  2. I would watch the 20ma closely.

    A close under the 20ma would make me exit.

  3. Okay! By the way, this is from QCharts. I think it is a good idea to also show you the broad market picture. Can someone tell me how to do that? Thanks.

    Nice work 'Fader! You have profits now on that last trade, and you are livin' large. Aggressive trader that you are, you have not only taken a profit, but shorted this bad boy.

    Where is your stop loss? Where is your target? Place the orders.

    Trade this Chart!
  4. I would never short a chart like that. The trend is clearly up. We atleast need to break the low of 6 bars ago.

    No exceptions.

  5. Prudent trader that you are....:).... you decided not to short after all unless the low of the bar 6 bars previous was taken out. Today, it did, and YOU ARE NOW SHORT!!!

    Where is your stop loss? Where is your target?

    Trade this Chart!
  6. bobcathy1

    bobcathy1 Guest

    I use so many indicators a call like this is impossible for me to make clearly....however since the candle closed below the 20ma I would go short on it....and use that same 20ma as my stop if the candle closed above it. The best thing to use is a trailing stop since there are no bollingers or MA's to guide me.:D
  7. Great cathy... good to see you. Could you be more specific on your trailing stop?
  8. bobcathy1

    bobcathy1 Guest

    That is difficult to say with no numbers. I would judge it as the length of the longest candle body. Probably the last red candle.
  9. trendy


    I would wait for the 20MA to stop trending up, and then short as soon as price fell below the low of the bar where the trend stopped.
  10. Oh you savvy traders! This is a weekly chart too! These bars are some nice size. I now you all put on 5k shares if you trade at all, so imagine!

    Now you have profits to protect, yet is there more to this move?

    Trade this Chart!
    #10     Aug 26, 2003