AML - Shorting area

Shotry wrote: Sounds like we're on the same wavelength here Clarky, but I'm trying to change because what we're trying to do it take the 'hard yards', we're missing the easier more relaxed stuff. At the end of the day our individual personalities will dictate what we're capapble of or even good at so I think if we get something to work for us, run with it.

Had to change myself shorty because of similar traits..... 'This is way too high or way to low'
Now i look for higher lows (uptrend) and lower highs visa versa.

Clarky, what do the stochs, rsi, MA and boll bands give you that are different? What if they contradict?

Regards RMc

Exactly that RMc and I need to change it as as my forward momentum is far slower than it should be. I have regularly got caught in the 'this has to turn soon' trap and I don't want to be there again.

Rossy,

I pay attention to the following indicators, but not much more:

Stochastic, RSI (for divergence mostly), 20sma on all charts (other MA's on other charts, try find best historical fit rather than universally use the same set on every chart),
Bolly bands - great tool for over or under extended price action as well as tightening bolly bands to further back up a potential break out.

I don't look for the "perfect" set up in the sense that EVERYTHING HAS TO line up, so to speak, but I do like at least 3 indicators telling the same story as what I see in the price action. I also like to look at the time-frame above and the time-frame below what I am trading off to make sure they are telling a similar story.

Rossy - did I understand your question?

or was you talking about more specifically to this chart?

Hi clarky

Yes you did and answered well. Thanks. I've got rid of near enough everything as it contradicts and confuses me. My major tools are the candlesticks themselves.

Ok try this if you dare. Strip your chart and just look for S/R levels. Forget the trend lines. Use a different charts package not to upset our chart set up. Let us know if you do!!!!!

Double dare you
RMc

Rossymc wrote: Hi clarky

Yes you did and answered well. Thanks. I've got rid of near enough everything as it contradicts and confuses me. My major tools are the candlesticks themselves.

Ok try this if you dare. Strip your chart and just look for S/R levels. Forget the trend lines. Use a different charts package not to upset our chart set up. Let us know if you do!!!!!

Double dare you
RMc

Ha - believe it or not, price action and S/R levels is the first thing I look at - on absolutely any chart at all. I don't strip the chart, but I do plot my horizontal support and resistances before anything.

Red is current resistance, green is support (blue is usually oblique - but left them out on your say)

So far traded the range but today stuck on a short-medium term short with targets of 409 & 401 based on the following charts.

Also shorted Domino for same reason.