This is exactly the same strategy that Greg presented in his chartwatchers article. However if you look at his charts they covered almost 5 years. I am trying to be more patient, but I don't know if I will ever attain that level. Notice that he had to use a log chart, which I actually don't like. However, I think he is very solid and well worth watching.
But I am going to play a shorter type game. AAPL this year has had two 60min swings up and two down. The current one has gone on since the middle of May, so I know I am getting in long into the cycle. I don't expect to make a lot on this cycle, but I want to get my head into the game.
The chart below may give you some ideas. I find the CC250 very telling along with M65. I also plan to use my ratio chart.
AAPL YTD is only up 12.7% ytd so it is lagging NASDAQ which is at 17.8%. But just trading the quick trade lines I put on the charts turns the year into 28.9%.
I can hold SPY during correction cycles (to a point), but not individual stocks. They tend to drop too much and I tend to be over 100% invested with them.
In the past I way over traded my 60min charts. But using M65, it allows for more dips. Remember for SPXL and TQQQ, I allow M65 to go to zero before I take any action. For individual stocks, they may be a bit late. EOD signals are a real big help as verified by what happened last Monday.
I went back to studying the web site you noted and saw some different things. He is saying that my timing for getting into AAPL and AMZN is right on. Wow how about that. And I certainly mis-spoke when I talked about the 5 year chart, he is just using about 18months which is enough the catch the last support point and not the previous ones that Greg presented.
I am for sure going to keep an eye on him for ideas. He may even get me to watching weekly charts. Thanks for post, love new ideas.
News 
Market Data 
Discover 
AI
