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Swing trading Canadian RSS Feed

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Moderator Croesus I
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This is a thread to discuss the TA merits of Stocks that trade on a variety of senior exchanges, preferably with a minimum volume of 50,000 for the TSE & AMEX; & 200,000 shares average volume for the NYSE, NASDAQ.

I rarely play the CDNX... but I have no choice in the current market enviroment... (resource friendly), note these stocks are thinly traded & one must always use limit orders & sit on the bid or ask for days or weeks in order to get a fill.
As of this date January 14/06, resource stocks have been flying, in many cases doubling or tripling in a couple of days or less. Amazing how things change. Looks like were in a very speculative bull market in that exchange.
High risk IMO but sometimes very high reward.

Please do not post OTC American stocks. (ie: Nasdaq pink sheets)

I am a novice chart reader giving opinions that I hope will help me and others learn some more about Technical Analysis.

Sometimes I'm right, most of the time I'm wrong. Which is why I use stops. Mental, physical or otherwise...depending on the liquidity <g/ng>

**********************************************************************************************************************************

My typical charts now show the following indicators:

Candle Chart - a candle price chart used in conjunction with
Moving Averages (on the Price Chart) - I have been using a 5 X 21 day EMA moving average.

Moving Average crosses, either of the daily price over various MA's, or of each other, are often significant. Note that I like to work in three different periods, monthly, weekly, daily or weekly, daily, hourly. With confirmation ideally in all 3 time periods, but I am comfortable with two time frame confirmations (higher risk though...)

ADX - the ADX line (heavy black) is used to establish whether a strong trend (rising ADX) or a weakening, non-trending period is in effect for that particular chart.
In trending (rising) periods, trend following indicators (MACD and MA's) are perhaps more valuable.
In non-trending (under 20) or possibly flat or falling periods, oscillating indicators (Stochastics for example) may be more appropriate to use.

+DI, -DI (within the ADX section) - these lines are indications of buying &/or selling strength
It may be useful to use a cross of the +DI over the -DI as a buy signal in conjunction with other indicators, and to use the opposite cross as a sell signal or as a possible short.

MACD - See above re: use in a trending market (see ADX: above 20)

Stochastic - For an oscillating or a non-trending market (see ADX: below 20) market.

OBV- an indicator of the strength of money flow into or out of a stock over a period of time.

Occasionally I will post Pnf (point & figure) charts, along with detailed explanations, in conjunction with the other charts.

Example of a PnF chart :


Example of a typical (daily)up trending chart with my favorite indicators

and 3yr weekly

Please enjoy, learn, and contribute.


Regards,
Peter

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