Replies to post #19112 on ETF SWING & DAY TRADING

[MetalFillBoy]

RE: Torqputty: Using the breadth charts.

Hello Torqputty!

Thanks for your analysis on my charts. As I posted to husk, good to have other traders views on charts.

BB's: I added these after an exchange with rcptrader. Still learning in this area, so any comments that I make on the BB's may be completely off.

Yea, I had a hard time calling a direction when I did my charts last night. Sleeping on it has not helped much either! The hourly BB's have tightened, but most of the action has been below the midline. SI/Osc: The Osc looks like it is breaking up. The SI has gone flat to up. As you have pointed out, red/green line is about to cross, but the blue line is still trending down. All in all, I did not find anything definitive on direction, so I picked one (flipped a quarter to help! :).

Yes, I trade this method at EOD using the Rydex 2X funds. I look at the daily view of the NDX SI to get an idea of short term trend bias. I also look at the MACD Breadth indicator, but mostly at the blue line and not so much the red/green. Still working on fine tuning my interpretation of the crossovers in this time frame. I also take into account where support and resistance is and what the daily RSI(5) is doing. Since Dec, only 5 trades using these rules, with 4 profitable trades. The last lose was on 1/20 and gave alot back. Went back and picked over that traded, and broke two rules: only trade with the longer time frame (at the time it was down) and stay out during OE week. As Ed (emgall) says: I got to get better at this!

Please, continue to pick over my charts and analysis, and I will continue to post them.

Thanks again for your feedback!

Jared
[e-mail]