So, I entered some long term positions yesterday and today. Long term to me means hopefully, at least a week. We will see. I am taking small positions at this point in time. I use the four hour and the daily charts together. I like to see both in place when I enter a longer term trade and then I look for weakness in the hourly and 4 hour charts to exit the trades. This is a newer system for me and so far, has served me well. Hopefully, it will continue to over time. That's all I will say for now as I continue to trade with it.
TECS @ 23.16
SQQQ @ $31.00
BOIL @ 3.61
My volatilty charts are moving into place to move up, but don't look fully committed so, I'm not fully in either. I said months ago, that I try to not trade against them and that still stands. I find that sometimes the volatility charts lag a bit or get out of sync with the index. I use them as a barometer. If they flip on me, I start looking for weakness in my other charts. Using them is not an exact science, but I do find them helpful. It's great with everything lines up together.
BOIL is interesting. Re daily chart, my first buy signal was on 4/3, the big volume came in 4/6 and today closed above the 9 ema. I bought at the close today and bought a small position. I'll add to it later if continues to move up.
