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ETF scalp and swing trades

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Last Post: 12/15/2019 11:50:43 PM - Followers: 4 - Board type: Free - Posts Today: 0

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 
#280   3600 S&P says this guy, hard to argue Sendme 12/15/19 11:50:43 PM
#279   Nice job on selling the silver. I Sendme 12/15/19 07:56:00 PM
#278   Thanks I sold a lot of silver a few jsc52033 12/15/19 05:40:29 PM
#277   Gold has been consolidating for quite a while Sendme 12/15/19 12:17:40 PM
#276   Thanks looks like dust could be a buy heere. jsc52033 12/13/19 10:55:08 AM
#275   Gold is showing a potential bear flag Sendme 12/13/19 09:49:30 AM
#274   Seems the DEms want to hold up the jsc52033 12/13/19 09:39:32 AM
#273   FOMC days are volatile and now we have Sendme 12/13/19 09:32:09 AM
#272   Hey, sendme, I don't get on IHUB much. Qone0 12/12/19 02:42:04 PM
#271   yeegas can you believe the turn around in jsc52033 12/12/19 12:27:39 PM
#270   Sadly I didn't get in. I put a Sendme 12/12/19 10:18:10 AM
#269   I meant under 7 not below 6 jsc52033 12/12/19 10:16:30 AM
#268   did you gt out og jnug jsc52033 12/12/19 10:09:46 AM
#267   Yss gold jumped past the 1470-75 and jsc52033 12/12/19 09:55:29 AM
#266   Gold looks like it wants a little more Sendme 12/12/19 08:04:30 AM
#265   LABD follow up, link back for original chart. Sendme 12/11/19 11:09:01 PM
#264   JNUG 3 minute chart using the 2 candle Sendme 12/11/19 10:27:16 PM
#263   thanks for reminding me jsc52033 12/11/19 10:10:24 AM
#262   FOMC meeting ends today and an announcement coming Sendme 12/11/19 10:07:23 AM
#261   thanks for that. Deos look like gld is jsc52033 12/11/19 10:05:30 AM
#260   LABD coming into the .786 pullback Sendme 12/11/19 09:24:47 AM
#259   JNUG on the 3 minute chart got a Sendme 12/11/19 08:47:29 AM
#258   traded above but doesn'y look like it will jsc52033 12/10/19 04:30:18 PM
#257   That's what I am hoping for too Sendme 12/10/19 10:03:38 AM
#256   Thanks for the charts jsc52033 12/10/19 10:00:53 AM
#255   Hey Qone0 whatcha got on your radar this week? Sendme 12/10/19 06:18:40 AM
#254   Gold double bottom, price needs to close above Sendme 12/10/19 06:11:46 AM
#253   LABU/LABD Looks like LABD might have just completed a Sendme 12/09/19 10:45:22 PM
#252   market and TVIX Sendme 12/09/19 10:22:12 PM
#251   I was thinking that gold might pop to 1470-1475? Sendme 12/09/19 10:10:51 PM
#250   Well today the dow and ajor markets aredown jsc52033 12/09/19 01:06:16 PM
#249   My ideal scenario would be for a pullback Sendme 12/09/19 11:56:09 AM
#248   thanks for the charts. If I remeber most jsc52033 12/09/19 10:00:37 AM
#247   3 minute chart scalps looking at only high Sendme 12/08/19 06:55:54 PM
#246   Gold and NUGT Sendme 12/07/19 08:43:45 AM
#245   I went into Nugt this am 27.65 jsc52033 12/06/19 10:00:07 AM
#244   I see dust up 2.2 jdst up 4.3% jsc52033 12/04/19 12:14:53 PM
#243   gold and JDST if gold pushes up into Sendme 12/04/19 11:36:07 AM
#242   nice trade so far. I saw that double Sendme 12/04/19 10:29:40 AM
#241   thanks for the chart. I did place an jsc52033 12/04/19 10:05:53 AM
#240   1520 on gold was about the last swing Sendme 12/03/19 10:35:51 PM
#239   No, I can't bring myself to hold futures Qone0 12/03/19 11:15:28 AM
#238   gold hit your 1480- 1482 will it make jsc52033 12/03/19 10:20:29 AM
#237   Wow a gap in the major markets and jsc52033 12/03/19 09:51:55 AM
#236   Market and TVIX Sendme 12/03/19 07:16:12 AM
#235   Thanks for the link on that. I put Sendme 12/03/19 06:43:33 AM
#234   That sounds like a good time for Christmas Sendme 12/03/19 06:36:37 AM
#233   This is excellent, I'm stealing it. <G> Qone0 12/02/19 02:38:42 PM
#232   There are always bigger and smaller patterns. Always. Qone0 12/02/19 01:36:42 PM
#231   Thanks for that video. jsc52033 12/02/19 09:59:12 AM