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ETF scalp and swing trades

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Last Post: 4/8/2020 2:59:13 PM - Followers: 8 - Board type: Free - Posts Today: 11

This is a place where traders can share Technical Analysis and rules based trading ideas on scalp trading or swing trades. 
If you have a favorite pattern or candlestick formation that you trade and want to share it with the group, I ask that you please post it with some basic info on it
1. Use an ORANGE horizontal line for any suggested entry positions
2. Use a Red line for any suggested stop loss
3. Use a GREEN line for any suggested profit targets.
Please post the ticker symbol with a brief description of the pattern or candlestick formation name and post follow up replies to that link for easy access to that thread on longer term swing trades.

Chart patterns

Candlesticks and volume can often tell the emotions of the ETF and being patient to wait for signals in the candlesticks or their patterns is helpful when looking for tops or bottoms

Look for high probability trades. These are areas where there is a confluence of indicators and patterns showing multiple bullish/bearish signals. 

1 minute chart scalping often requires a lot of data proccessing in a short period of time and is often best traded with larger lot sizes ($25K-$30K) to get in and out quick.
Don't be greedy, book profits! I personally book profits at  1% to 1.5%  Sometimes it only takes 3-4 minutes to hit a target once you get a buy signal.  If your hand is shaking when you are deciding to buy, DON'T trade.
Always know your reason for buying, your exact exit and exact target as soon as you hit the buy trigger. Often times you will see very similar trade set ups. Don't force a trade, be patient and wait for patterns that you can easily recognize and identify.
Get familiar with a couple of indicators that can be useful to identify if potential break outs or false break outs. Divergences will often times give you clues. 
After a big move down you will often see consolidation and false break outs as the MM accumulate shares and set bull and bear traps. Often times you can spot these by looking at divergences in the indicators. 
Often times you will see 2 false break outs which will offer nice gains if you are quick enough to spot them. False break outs are often fast runners for the exit in the opposite direction and may not give you a chance to buy on a pullback.
 Look for consolidations, divergences and reversal patterns at Swing Highs and Lows for potential fals break outs.
Most of the charts posted in the intro I have removed a lot of the indicators I typically have on a chart while trading. This is what my chart set up really looks like when I am trading live. (without the annotations of course)
This is the chart without the annotations. I like to use color coded trend lines to mark swing highs and divergencs and flag patterns etc. You will notice that at all of the big green arrows the 26 EMA (yellow) was above the 50 EMA (blue)
and also above the Ichimoku cloud. Some people don't like to have any indicators on their charts, but I do like certain ones that I have back tested and found ways to use them to help give me higher probability trades.
 This is how my chart looks like when I am scalp trading on the 1 minute time frame. The pink horizontal lines I will have on the chart and continue to adjust up or down as I see new short term lows and highs being made until I notice that 
price is starting to get range bound and then I look for the break out.

This is the same ticker as above (LABD) but two days later, notice the similarities.

Always keep in mind the bigger time frames when looking for reasons to scalp the bull or bear ETF's. This is the LABU 15 minute chart that would show areas to look for bull and bear trades simply based on the moving averages and Ichimoku cloud.
Looking for scalp after the last green arrow on the chart above

In scalping 1 and 5 minute charts, it's all about getting in and out and booking profits. A 1:1 risk/reward strategy and discipline can be profitable if you are waiting for high probability trades.
These time frames are not meant to be used for trend reversals. If you plan a trade on a 5 minute chart ALWAYS book profits on the 5 minute chart.

Swing trades on 15 minute and 60 minute charts.
I like to look for divergences leading into a pattern break out or trend line break out for longer term swing trades that I would hold for a couple of days and sometimes up to a week.
These trades will often lead into a 1:3 risk/reward or more.

ABCD pattern. These are the suggested moves for the CD leg based on the pullbac of the BC leg
BC retracement          CD leg
.382                             2.24 to 2.618
.50                               2.0
.618                             1.618
.707                             1.414
.786                             1.27
.886                             1.13

Fibonacci Extensions.  These are the suggested fib extensions based on the fib retracements
Fib retracement             Fib extension
.23/ .382/ .50/ .618       1.618  
.786                              1.27
.886                              1.18

My 3 minute scalping cheat sheet 
#379  Sticky Note My 3 favorite chart patterns for scalping. Sendme 01/25/20 09:27:52 AM
#838   DGAZ when is it safe to catch a Sendme 04/08/20 02:59:13 PM
#837   LABU/LABD same thing but different as my 7 Sendme 04/08/20 02:49:40 PM
#836   LABU target hit Sendme 04/08/20 11:49:05 AM
#835   TVIX is getting closer to taking out the Sendme 04/08/20 11:37:35 AM
#834   Gold, and JNUG I haven't traded this Sendme 04/08/20 11:33:22 AM
#833   LABU had a buy trigger Sendme 04/08/20 11:20:25 AM
#832   MJ this is another one that will Sendme 04/08/20 11:19:29 AM
#831   UPWK Upwork 4 hour chart. Sendme 04/08/20 11:07:13 AM
#830   thanks for the chart jsc52033 04/08/20 10:11:06 AM
#829   EDIT Sendme 04/08/20 09:00:51 AM
#828   SPY corrective AB/CD wave? Sendme 04/08/20 08:32:56 AM
#827   right those guys will change back the jsc52033 04/07/20 03:13:35 PM
#826   Most technical charts still seem to point to Sendme 04/07/20 01:55:14 PM
#825   thanks for the charts Several on spy board jsc52033 04/07/20 01:41:33 PM
#824   Stock market cycles Sendme 04/07/20 12:24:53 AM
#823   Emini chart 4 hour looks like a bear Sendme 04/06/20 07:47:11 PM
#822   Futures chart and SPY Sendme 04/06/20 07:14:53 PM
#821   SPX daily chart. 2800 area has 2 fibs Sendme 04/06/20 06:54:34 PM
#820   JNUG, there's that 5.00 target. Not the way Sendme 04/06/20 06:50:07 PM
#819   thanks will look at him jsc52033 04/06/20 03:22:03 PM
#818   If you are thinking about joining up somewhere, Sendme 04/06/20 02:57:46 PM
#817   wonder how much some of those guys can jsc52033 04/06/20 02:49:16 PM
#816   I don't subscribe to him, he has been Sendme 04/06/20 02:34:07 PM
#815   This guy uses the site StockMArket cycles. I jsc52033 04/06/20 12:58:23 PM
#814   Monthly SPX chart study on major trend line Sendme 04/04/20 05:46:46 PM
#813   This is a great video relating to the Sendme 04/04/20 12:16:13 PM
#812   UGAZ update, this one pains me to post. Sendme 04/03/20 04:35:56 PM
#811   LABU sometimes you're the windshield and sometimes you're Sendme 04/03/20 01:34:35 PM
#810   LABU the market showed my favorite pattern Sendme 04/03/20 01:07:21 PM
#809   LABD gotta love the moving averages and occasionally Sendme 04/03/20 12:33:12 PM
#808   Evidently the unemployment numbers didn't rattle the cage Sendme 04/03/20 11:47:10 AM
#807   Thanks Jeff. Very hard to call at this Sendme 04/03/20 11:38:57 AM
#806   Pretzel Chart JefftDecker 04/03/20 11:26:57 AM
#805   LABD If the market is going down even Sendme 04/03/20 11:06:28 AM
#804   Day 2 of share accumulation. Sendme 04/03/20 10:41:28 AM
#803   SPY one hour chart. Looks like a potential Sendme 04/03/20 09:13:23 AM
#802   Stock market cycles update. Sendme 04/02/20 10:57:23 PM
#801   Futures chart, looks like a bear flag that Sendme 04/02/20 10:55:48 PM
#800   GDP forecast. This is why I think Sendme 04/02/20 10:06:38 PM
#799   yes I use to taake our kids for jsc52033 04/02/20 08:01:56 PM
#798   CNBC once again claiming the bottom has Sendme 04/02/20 05:28:15 PM
#797   Emini Futures chart. This 4 hour chart paints Sendme 04/02/20 05:00:48 PM
#796   And that is why it is best to Sendme 04/02/20 04:53:17 PM
#795   I am still waiting to see if they Sendme 04/02/20 03:41:42 PM
#794   I had a brother and sister and a Sendme 04/02/20 03:37:39 PM
#793   I was an omly child I can fully jsc52033 04/02/20 03:33:55 PM
#792   LABU/LABD switching now to a 15 minute chart. Sendme 04/02/20 03:33:24 PM
#791   I think we are going to get through Sendme 04/02/20 03:23:48 PM
#790   VVIX and VIX Sendme 04/02/20 03:20:34 PM
#789   thanks please post him if he sends anything. jsc52033 04/02/20 03:16:57 PM