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ETF scalp and swing trades

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Last Post: 1/14/2021 6:48:32 PM - Followers: 7 - 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 
#379  Sticky Note My 3 favorite chart patterns for scalping. Sendme 01/25/20 09:27:52 AM
#1240   What's up? Haven't even looked at IHUB for Qone0 01/14/21 06:48:32 PM
#1239   Thanks for the up date jsc52033 01/12/21 10:20:22 AM
#1238   Hello and Happy New Year to you as Sendme 01/10/21 12:03:48 PM
#1237   late New years greeting jsc52033 01/02/21 11:21:28 AM
#1236   are you ok were any of the fires jsc52033 11/01/20 05:41:38 PM
#1235   wow your looking for one massive drop jsc52033 09/21/20 09:57:28 AM
#1234   Just some thoughts on the NDX weekly. We Sendme 09/20/20 06:33:14 PM
#1233   looks like the major markets are beginning that jsc52033 09/18/20 11:29:21 AM
#1232   SPX spike and channel one hour chart. Sendme 09/15/20 07:06:18 AM
#1231   thanks actually today feel better. Did eat and jsc52033 09/06/20 04:28:40 PM
#1230   Hang in there! Hope you get better soon. Sendme 09/05/20 07:13:13 AM
#1229   thanks. It is draging on so I have jsc52033 09/04/20 10:14:19 AM
#1228   Good luck with everything, hope you get better soon. Sendme 09/04/20 09:52:13 AM
#1227   good to hear. jsc52033 09/04/20 09:41:26 AM
#1226   Been really busy at work, and with the Sendme 09/04/20 08:09:25 AM
#1225   thanks for that chart SOme think gold can jsc52033 08/10/20 06:47:21 PM
#1224   Gold monthly, I was looking at this chart Sendme 08/09/20 08:38:54 PM
#1223   Thanks for that post jsc52033 08/09/20 05:25:44 PM
#1222   Peter is the man who has the stock Sendme 08/09/20 09:54:52 AM
#1221   thanks for the chart and comments jsc52033 08/06/20 10:05:13 AM
#1220   S&P Cypher hit target 2 at the 1.27 extension. Sendme 08/05/20 11:17:25 PM
#1219   seems that way, but all good things do jsc52033 08/05/20 01:36:51 PM
#1218   Doesn't seem to matter if it is good Sendme 08/05/20 08:52:04 AM
#1217   I am a news buff. There was a jsc52033 08/04/20 12:28:49 PM
#1216   I didn't even know that there were any Sendme 08/03/20 10:40:26 PM
#1215   hope your ok Are you near where the jsc52033 08/03/20 03:42:25 PM
#1214   looks like you did ok on labd Major jsc52033 07/30/20 01:18:19 PM
#1213   SPX stop loss hunting continues. The Cypher Sendme 07/30/20 08:52:00 AM
#1212   LABD/SPXU/SQQQ one hour charts. Sendme 07/30/20 12:00:40 AM
#1211   S&P Cypher pattern hit target 1, not holding Sendme 07/29/20 11:27:51 PM
#1210   thanks for the charts jsc52033 07/29/20 11:37:16 AM
#1209   SPX had a deeper pullback than my previous Sendme 07/29/20 09:39:39 AM
#1208   SPX support/resistance at 3225 keeps getting sliced through Sendme 07/28/20 10:01:48 PM
#1207   Trend line break? Randy from Right Side Sendme 07/28/20 09:53:08 PM
#1206   NDX 4 hour chart, RSI is a bit Sendme 07/28/20 09:10:14 PM
#1205   We are still in the 100's during the Sendme 07/28/20 09:05:29 PM
#1204   GDX I wish I had paid closer attention Sendme 07/28/20 08:59:04 PM
#1203   Things look like they are starting to stall out. Sendme 07/28/20 08:22:32 PM
#1202   thanks for the charts when I look at jsc52033 07/28/20 03:39:14 PM
#1201   SPX good/better/best Sendme 07/28/20 09:39:54 AM
#1200   LABD/SPXU/SQQQ four hour charts. Sendme 07/27/20 11:52:38 PM
#1199   S&P Cypher update. Target will be the .786 Sendme 07/27/20 11:00:20 PM
#1198   SPX weekly chart. A couple of things that Sendme 07/27/20 10:48:19 PM
#1197   Nasdaq weekly charts. On the intro of this Sendme 07/27/20 10:27:34 PM
#1196   thanks for the charts not really much action jsc52033 07/24/20 03:08:14 PM
#1195   S&P update on 15 minute chart short Sendme 07/24/20 09:40:39 AM
#1194   S&P hit point D on the Cypher pattern. Sendme 07/24/20 09:07:48 AM
#1193   In my opinion, this guy has a really Sendme 07/23/20 11:10:32 PM
#1192   S&P 15 minute chart shows a potential Cypher Sendme 07/23/20 10:59:54 PM
#1191   We started a game of monopoly this past Sendme 07/23/20 10:15:17 PM
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