Sept 5, 2023 See how I look at the charts

I sincerely hope I have made this clear. I have gone back and edited as I read through this post because I tried to convey how I was doing each step along the trade I did today. I really don't like trading after the market has been closed for more than over the weekend. Readings usually are off but to help you see what I look at...META today was a PUT for a FAST trade. I wait generally for the candle to come back into the Bollinger band to make my decision ON THE 5 CHART you can see the candle pulling inside the Bollinger band and forming a red one. The moving averages on the 5 chart GW;s green one and the 5 moving average on the 5 chart began its turn down. Furthermore, you can see that the 200 moving average and the 50 moving average on the 5 chart drew closer until they finally crossed at 11:20. Remember I said these moving averages (all of them) are like magnets and will pull the candle to them or repel as it you have polar ends matching.

A 20 moving average GENERALLY acts as support or resistance. It is close to the center of the Bollinger band. IF a candle goes through the 20 moving average (up or down) GENERALLY this is a sign of movement to the Bollinger band TOP or BOTTOM depending on the momentum of the move.

On the 8 CHART @ 11:48 you can see the candles are hovering around the 20 moving average. IF they go above or below the 20 moving average and close there it is more likely the stock will change positions. HOWEVR IF the candle gets stuck on the 20 moving average (meaning the 20 moving average is in the center of the candle) direction of the stock has slowed and traders are questioning whether to leave or stay.

This is when I look at my 13 AND 21 charts. On the 13 chart at 11:53 I can see using the moving averages and lining them up with the scale my 20 moving average is at $297.24 and it is possible that my PUT will at least reach this price. However at 12:05 you can see the candles on the 8 chart wrapping around the 20 moving average. Reminds me f the song "You ever have the feeling that you wanted to go but still had the feeling that you wanted to stay." Generally, at that point I leave the trade. Wrapping around a moving average like that causes me concern and as soon as I see a candle pop above or below the 20 moving average if I am in a PUT or below it if I am in a CALL I leave my trade. (UPDATE: My decision was correct)

Now when I have other things to do I set a GTC for about half of where I see the price scale hit on my 8 chart. So had I entered this trade when META was at $299 and change and I could see according to the price scale and the 20 moving average that it would pull back at least $1.00 I set my GTC for .50 and go about my day.

BTW Stoch RSI and Money flow showed over bought.

PRICE SCALE is the place on the right of my charts and is where the moving averages are in price. Each one of those amounts line up with your moving average. Will this work for bigger charts? I HAVE NO IDEA BECAUSE I DO NOT TRADE THAT WAY.

Now I am on to trying to figure out how to reset my Fitbit which has me a day ahead...errrr...Technology drives me up the wall!



Edited 7 time(s). Last edit at 09/05/2023 11:38AM by Darcy3.

NOW If you want to play it up, for instance say the bigger charts show a trend up looking at the 55 anyway. SEE HOW THE CANDLES ARE RIDING THE BOLLINGER BAND ON THE 55? (time 2:36 on 9/5/23)

At the OPEN WAIT until you see the stock pull back to the 20 moving average and look to see the direction of the trade on the 5 and 8. Once the candles start wrapping around the 20 moving average on the 8 wait until you see a white candle on the close ABOVE the 20 moving average and when it does it is time to enter the trade up

Up on bigger charts would have work as well. I have no idea how the 233 or daily looked but looking at these smaller charts and how they acted will show you how the bigger charts should trade. Use that 20 moving average on the small charts as a support. With the 50 moving average crossing the 200 moving average the TREND for a longer trade should be UP.

I simply don't trade larger charts because most trades I am in last anywhere from 1minute to 3 hours.



Edited 2 time(s). Last edit at 09/05/2023 02:03PM by Darcy3.

Sorry for all the edits but I was trying to write live as the market moves and what I was seeing. I did a PUT because my small charts showed a pull back of over $1. I knew I could grab .50 at least and generally I set a GTC for that using the price scales. This time because I was writing as I was in the trade I wanted to tell what I was seeing.

If you trade larger charts what I was seeing was a pull back which is what you need to wait to see before entering a trade on a larger charts to trade as I do. As you can see on the 55 the move on the smaller charts is on that 11:05 candle. To enter this trade on the 55 chart watch the 5 and 8 and when those candles wrapped around the 20 moving average on the 5 and 8 you need to be prepared to enter EITHER way. WAIT until the 8 shows you a direction.

BTW if how you are trading now isn't working and you have been doing that for 1 year or more...you need to take out what isn't working and look for what does. If you stay in too long IMHO if you have a gain TAKE IT! Staying in can ruin your trade. As I had said before had a friend who was up over $800,000 in his basket. Once he hit that level he thought he couldn't lose. Within one month he lost all of it. This is why I trade small charts and why I do not stay in any trade. I am trading NOT buying so why stay in? That's my opinion anyway.

@Stocktraderman,
Ok, let me jump in here real quick. I don't believe Darcy is SELLING a thing. She has been teaching and educating for years on here and most people appreciate her willingness. She teaches her style for FREE, out of the goodness of her heart. It's rare to find people like that today! Just because she doesn't use Gary's way or your way doesn't mean she has FEAR, it means she found what works for her and that's what we all should be doing.
For me, I love breaking down her trades to see why, how, where, what... I'm always trying to understand other people's styles of trading.
Always learning.

StockTraderman007 Nope I gleen. You nest. Fear would be NEVER pulling the trigger.

PastorP Thank you and no I do not sell anything. I want all to be successful as to how they trade. My method can be used to get into longer trades if that is what others like. I don't think StockTraderman007 has lost enough yet nor do I think StockTraderman007 has studied enough. StockTraderman007 wants to sell something almost all of us already have. I like what works for me and whatever StockTraderman007 says simply rolls off my back. I wonder if StockTraderman007 has ever listened to the Najarian brothers? Naw he'd call them day traders too.

Can we get an admin on here to remove this system stealing moron?

He comes to sell us on "his system" that he STOLE from Gary and doesn't even hide the fact that he's doing so. And comes with the insults and backhanded compliments while trying to sell us on a system we all ALREADY HAVE.

Please I ask, where are the admins to remove this clown!

StockTraderman007 has been deactivated.