Wednesday, January 16, 2013 9:27:47 PM
Using the 20/50/100/200MA on both the daily and weekly chart. I rarely look at the monthly.
Only other thing I look for on those charts are things like double bottom/top. An example of a stock I've posted on StockTwits is M: it has a DB @ 36.35 and for that, you need the daily (sometimes weekly).
Most of my S/R lines are drawn on the basis of the 2M/3M/5M/15M/30M charts. Since the intra-day range is usually narrow for any given stock, the S/R lines I see drawn on the 2M chart (my main chart) are enough for trading. I then look at the 3M/5M chart for volume hints and occasionally 'hidden' S/R points, and the 15M/30M to identify he bigger S/R lines as well as gap ups/downs.
I've included a screenshot of my NFLX 2M chart. Orange is strong R, dark blue is strong S. Obviously, it doesn't always work out.
Only other thing I look for on those charts are things like double bottom/top. An example of a stock I've posted on StockTwits is M: it has a DB @ 36.35 and for that, you need the daily (sometimes weekly).
Most of my S/R lines are drawn on the basis of the 2M/3M/5M/15M/30M charts. Since the intra-day range is usually narrow for any given stock, the S/R lines I see drawn on the 2M chart (my main chart) are enough for trading. I then look at the 3M/5M chart for volume hints and occasionally 'hidden' S/R points, and the 15M/30M to identify he bigger S/R lines as well as gap ups/downs.
I've included a screenshot of my NFLX 2M chart. Orange is strong R, dark blue is strong S. Obviously, it doesn't always work out.
The best place for big board plays: GoodFellas $tock Mafia Plays
Volume penny stock plays: Decent plays
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