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The Charting Thread - Chart Setups and Trade Ideas

Discussion in 'Stock Market Today' started by bigbear0083, Sep 4, 2017.

  1. bigbear0083

    bigbear0083 Administrator
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    The Charting Thread - Chart Setups and Trade Ideas
    (Got a chart setup to share with the TSMF community? Post 'em up in here!)

    [​IMG]

    (All credit to @Steven for this awesome thread idea for TSMF!)

    Basically the purpose of this thread here is to not let a nice chart setup that either gets posted to the main daily discussion thread, or on a company specific thread get lost in the pile of other posts here. This thread would essentially act as the charting central on TSMF if you will. A place for people to showcase their charts! These can be anything stock market related. Stocks, Indices, Forex, you name it. If you have chart you want to share, this is your place to post it!

    While the title of this thread is mainly geared for "charts", it is technically not required to post a chart in here, but it is very much encouraged! If you do have a chart you'd like to share in here, it would be helpful to also include some commentary to go along with your chart(s). It can be brief if you wish...but at least something so we can all get an idea of what you are showing us in your chart.

    So, w/o getting into further ado here have at it with your charts and chart setups in here TSMF!

    Looking forward to seeing some great chart setups in here soon!

    I will sticky this thread to the front page as well. :)
     
  2. Steven

    Steven Active Member

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    Day Trade
    I love 2nd day plays. Here is a great setup with two examples of good low risk entries. Paper trade this set up until you are comfortable if you have not traded it before.

    The set up:
    1) The stock moved 4% or more on the previous day.
    2) On a 5m chart the price pulls back below the ma's and the previous days close. (It can also even open below the close)
    3) The price reclaims the ma's then the previous days close.

    Enter above the previous days close with a stop right below the ma(9), Or at the break of an opening range with a stop below the ma(9). Trail your stop at the ma(9) before lunch and after lunch the ma(20).

    Some trade nuances:
    The trade is higher probability with a bit more risk if you wait for the next 5m candle to open above the level. (my preference)
    Don't take this trade until the 3rd candle has started to form at minimum. The spreads are often too wide and the probability of being spiked out is very high in the first 10m.
    The trade can be a lot more explosive and higher probability if the ma(9), Ma920) and VWAP all all riding right underneath (like in this example).
    On all trades use good risk management on any trade.

    On this trade I had $50 risk with an entry at 51.42, stop at 51.18 = 210 shares. Sold 1/2 at 52.42 and stopped out last 1/2 at 53.45 for a 6-1 risk to reward.

    ions_001.png
     
    #2 Steven, Sep 4, 2017
    Last edited: Sep 4, 2017
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  3. Steven

    Steven Active Member

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    That set up works for shorts as well, just reverse every thing, gapped down the day before, opens green, etc, etc.
     
  4. bigbear0083

    bigbear0083 Administrator
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    Thanks for kicking off this this thread @Steven and a big time kudos for this very cool thread idea!

    How is the thread title looking here? I had changed it around just a touch the other day. Is it catchy enough? Let me know.

    Also, for those of you lurking in here I will begin running a little contest with members setups soon so we can keep track of how everyone's charts setups do for the week/month or whatever time frame we decide on.

    I think this could be a really interesting and active thread for TSMF. Anything to get more members involved with this site!

    Thoughts?
     
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  5. Steven

    Steven Active Member

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    I have not studied this trade but its very popular. Anyone trade the Red Dog Reversal"?

     
  6. Steven

    Steven Active Member

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    I am not a divergence trader, but I have a question for anyone that trades them. What is the trigger to enter after you identify one?

    spydiv.png
     
  7. Jrich

    Jrich Active Member

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    Good stuff Steven!

    One ive been watching.... this weekly chart is a little old, but the structural analysis hasn't changed

    Trading range begins with a clear Preliminary Support, and this area gets plenty of work as shown by volume profile

    The down sloping volume bars scream accumulation... and the low volume spring, breaching support without panic selling indicates supply is in strong hands

    20170829_214144.png

    The set up im waiting for is a break above that $18 level set by a gap down.... and if it breaks on high volume, then buckle up!
    20170909_065227.png
     
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  8. bigbear0083

    bigbear0083 Administrator
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    this may be looking a little extended in the very short term, but i'm kind of liking this move here back into this gap ... perhaps more upside to fill the gap forthcoming at some point?

    [​IMG]
     
  9. anotherdevilsadvocate

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    I'm in LCI @Jrich , although I hate these stocks that move 5 cents at a time. That's ok, it just moves up faster right?! At a minor resistance right now with the 50 ma.
    I like TWTR too, got out at $20 right before the ER, but can't buy myself to buy it right now because I'm of the belief that the market will pull back (where's our -5%? haha). Look at how great the Chinese Twitter (WB) is doing, that can't translate just a little bit here?
    One more beaten up stock I like: GPRO, making a higher high after pre-reporting positive earnings on 9/7. I'm mentioning this, because I'm trying to convince myself to pull the trigger. I think I can wait.
     
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  10. Jrich

    Jrich Active Member

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    Almost there... and no supply coming in to stop it


    20170912_194714.png
     
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  11. bigbear0083

    bigbear0083 Administrator
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    So...just to expand on this a bit more here, I was curious to hear what time frame you guys think would make sense to run a setups contest if you will. Weekly? Monthly?

    Basically, what I was thinking of doing here was running a competition using the members setups that get posted to this thread, and then simply putting them up in a spreadsheet kind of like how I have our other competitions. Then at the end of the week or month or whatever we end up using, we can track the members setups to see how they did for that said week or month.

    Perhaps I shouldn't be calling it a "competition" though since it will act more like a tracking system if you will.

    In other words - a way to see how members setups performed for that week/month.

    So for example sake, say someone posted a setup (and BTW this does not have to be limited to just 1 setup! you can post multiple setups if you wish!!) of AAPL and showing how it is about to break out. I would add AAPL to the setups tracking spreadsheet.

    We could use the closing prices from the prior day to track picks rather than using the open like I do our other competitions. Completely up to you guys how you think would be be the correct way to go about setting this up.

    Anyway, just throwing some ideas out in here.

    I think adding something like this will help garner more attention/interest in here.

    Let me know what you guys think!

    I think I'm ready to give this a little test run soon, but just wanted to get some more input/feedback on how to go about running this setups tracking spreadsheet idea first.

    Thanks!
     
  12. Steven

    Steven Active Member

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    I agree Cy that shouldn't be a competition. I like the idea of a setups thread more to share ideas.

    I think. It's gonna be very hard to track the setups though imo. I know it was kinda my idea lol, but the more I think about it, it would be a ton of work. For instance. The setup I posted I trade almost every day , it's my most successful and consistent setup. On each day there may be a handful of stocks that meet the criteria and I have to narrow it down to the best ones based on very subtle nuances (and of course I often pick the wrong one) another problem is that there are certain market conditions were the setup works better than others, and the fact that some people trade a certain setup well while others trade the exact same setup horribly. I really thought it would be a great thing to track statically but really it's how the individual trades them and which trades they take that determines the stats for a particular set up. I can tell you that I trade 2nd day play with a 56% win rate and a 3.7:1 RR ratio.

    On another note: I think it is super important to track your performance as a trader I use https://www.tradervue.com/ , and it was a game changer for my trading. fwiw
     
  13. Steven

    Steven Active Member

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    Here is a set up that has a kinda a lower success rate but when you nail it, it can give you monster returns. The guy in the video is the guy that taught it to me. (I'm a super fan)

    The Snap Back:

     
  14. Steven

    Steven Active Member

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    Pull Back Trade - Daytrade

    I have been staring at this trade all day. It's one of the cleanest technical trades I have ever seen. ( this is from my blog)

    ICPT broke down on 9/12 with big volume, so we add it to our watch list. Over the next seven trading days it creates a range and pulls back to the ma(9)

    At the open ICPT opens slightly green and at 10:40 it broke down through a significant level (98.12) with volume. Now we are excited and looking for a low risk entry. Over the next three candles ICPT builds a range and we short it as it breaks 96.36. It never looks back and at the time of this writing its at 83.82 and has not closed above the ma(9) since the break.

    aa.png

    icptd_001.png
     
    #14 Steven, Sep 21, 2017
    Last edited: Sep 21, 2017
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  15. Steven

    Steven Active Member

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    I wasn't really sure were to post this question, but can one of you Volume Price Analysis guys have a look at KEM and give me a take on if you think KEM might be in early signs of distribution. I am looking at something Mark Vierra posted about a long time ago about stacking the bars.

    Side note: @bigbear0083 how do we get Mark here?? He had fantastic analysis man and would be a huge get for the site.
     

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