intraday trading tactics - candlecharts · intraday trading tactics ... trading tactics – timing...
TRANSCRIPT
161
Intraday trading tactics – slide 1 of 3
On this daily chart, where’s R1 as of Dec. 3? Is it 955 or something else? Let’s go to the intra-day chart…
Dec. 3
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Dec. 3
See any resistance here before 955 on this 30 minute chart?
Intraday trading tactics – slide 2 of 3
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Intraday trading tactics – slide 3 of 3
Subsequent Price Action
Dec. 3
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Using Intraday Charts – Daily Chart (Slide 1 of 3)
After this session (March 20) where’s R1?
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Using Intraday Charts – Hourly Chart (Slide 2 of 3)
March 20
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Using Intraday Charts – Daily Chart (Slide 3 of 3)
Candlecharts.comHelping Clients Spot Market Turns Before the Competition
The Trading Triad
Candle Charts Western
Money Management
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168
Trading Tactics
Timing
Market Chameleon
Trend
The Three Cs
Candlecharts.com
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““His potential is that of His potential is that of the fully drawn bow, his the fully drawn bow, his timing the release of the timing the release of the
trigger”trigger”
Candlecharts.com
Market Timing
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Trading Tactics – Timing
ember10 24 1
October8 15 22 29 5
November
19.0
19.5
20.0
20.5
21.0
21.5
22.0
22.5
23.0
23.5
24.0
24.5
25.0
25.5
26.0
26.5
27.0
27.5INTEL CORP
Normally one waits for a close to confirm a bullish
engulfing pattern, but considering support was
holding on the open of this session, once the candle gets above the prior black candle
intraday one can consider buying lightly.
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Trading Tactics- Entering a Trade
The morning star pattern is not completed until the third candle line. However, in this scenario
the second session of that potential pattern is confirming the window’s support area. As
such, one could buy lightly there.
Morning star
Rising window
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Trading Tactics – not waiting for the close
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When to initiate a position
Although the doji made a new high close for the move- it is confirming a resistance area. As such we can consider selling lightly.
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Trading Tactics –Case Study
6 7 8 11 12 13 14 15 19 20 21 22 25 26 27 28 1March
4 5 6 7 8 11 12 13 14
37.0
37.5
38.0
38.5
39.0
39.5
40.0
40.5
41.0
41.5
42.0
42.5
43.0
43.5
44.0
44.5
FOMENTO MEXICANO
The close of this session completes an island bottom. But with the
gap higher opening one could consider buying
on the opening.
Dark cloud cover as
exit signal
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Trade Tactics – Case Study
4February
11 19 25 4March
11
19.0
19.5
20.0
20.5
21.0
21.5
22.0
22.5
23.0
23.5
24.0
24.5
25.0
25.5
26.0
26.5ADELPHIA STK C
Hammer and Bullish Shadows to enter
Small bearish
engulfing pattern as
exit
or close under bull
channel
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““Only those who Only those who understand adaptation understand adaptation
will win the battle”will win the battle”Candlecharts.com
Market Chameleon -adapt to changing market conditions
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Nison Trading Nison Trading PrinciplePrinciple
Being a Market Chameleon:Being a Market Chameleon:As the market environment changes –based on what the technical signals are telling us – we should adapt our market outlook
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Market Market ChemeleonChemeleon
Buy on these back to back hammers. Original target is resistance as defined by recent high and falling window. With the resistance and decline from the shooting star that zone now becomes the area to take profits.
Falling window
Buy
orginaltarget
Shooting star (new target)
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Adapting to the MarketAdapting to the Market
Breakout Over
Resistance Dark Cloud
Cover!
A prudent trader never argues with the tape. Markets are never wrong-opinions often are.
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Adapting to the MarketAdapting to the Market
Closed over Window’s Resistance
?