EWZuber
1,373 posts
msg #73329
- Ignore EWZuber |
4/5/2009 8:55:07 PM
Eman93, I do not believe that a person can be a consistently successful day trader or swing trader without looking at several time frames.
A set up might look good in a short term time frame but looking at the next longest time frame it may become obvious that the chart is not done selling off in a distribution phase.
Some people would call this a 'head fake' when in reality all it is, is a rise to test resistance caused by an oversold condition in the shorter time frame.
Better to wait for the test of resistance in the shorter time frame and sell short as that is the longer term trend.
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johnpaulca
12,036 posts
msg #73339
- Ignore johnpaulca
modified |
4/6/2009 10:20:48 AM
Gold continuing the sell off that started last week...holding NEM, GG, ABX, GOLD
- long FAZ, holding from last week.
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johnpaulca
12,036 posts
msg #73340
- Ignore johnpaulca |
4/6/2009 12:38:22 PM
Radio...hope ya long TZA and FAZ, both are running nicely
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Radiomuse
288 posts
msg #73341
- Ignore Radiomuse |
4/6/2009 12:42:56 PM
I'm long in TZA and SRS, looking for a long entry on a pullback on FAZ. How about you? Btw - are you trading TZA instead of TWM now? What do you think of it...enough volume?
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Radiomuse
288 posts
msg #73342
- Ignore Radiomuse |
4/6/2009 12:53:40 PM
long faz at 17.11
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johnpaulca
12,036 posts
msg #73343
- Ignore johnpaulca |
4/6/2009 1:01:33 PM
I am still trading old Betsy...TWM, like to trade TZA for "variety" but not very often.
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johnpaulca
12,036 posts
msg #73344
- Ignore johnpaulca
modified |
4/6/2009 1:06:33 PM
FAZ...my stop is a close below ema(100)....5-min chart
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Radiomuse
288 posts
msg #73345
- Ignore Radiomuse |
4/6/2009 1:23:36 PM
I had a tight stop on FAZ and I'm out already with a small loss - trying to only be in trades if it's with the trend.
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Radiomuse
288 posts
msg #73346
- Ignore Radiomuse |
4/6/2009 1:37:41 PM
back into faz at 16.97, hopefully this one works better
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johnpaulca
12,036 posts
msg #73359
- Ignore johnpaulca |
4/7/2009 9:56:01 AM
FAZ,TWM..still holding long...long gold, short energy.
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