Trading Strategies Using Technical Analysis

[tvrssvk]

Re: 2-3 Week Swing Trade Setup

2-3 Week Swing Trade Setup

Requirement Basic Knowledge of Candlestick chart with Stochastic Indicator (8,3,3) Settings. Simple moving Avg (22 period) and Simple Moving Average (50) Period.

might sound silly, please do reply.

I use icharts free charts for my swing trade analysis. However, I see there are slow stochastic indicator and fast stochastic indicator.

May I know which stochastic indicator are u referring above.......

 

[SwingKing]

Re: 2-3 Week Swing Trade Setup

2-3 Week Swing Trade Setup

Requirement Basic Knowledge of Candlestick chart with Stochastic Indicator (8,3,3) Settings. Simple moving Avg (22 period) and Simple Moving Average (50) Period.

might sound silly, please do reply.

I use icharts free charts for my swing trade analysis. However, I see there are slow stochastic indicator and fast stochastic indicator.

May I know which stochastic indicator are u referring above.......

Fast Stochastic ...

Tc

 

[tvrssvk]

Hi Raunak,

As per your 2-3 week swing trading set up, I have screened two scripts. Please let me know if my selection of stocks are correct as per your strategy.

1) INDHOTEL------uptrending stock with a pullback, hammer candle pattern formed on 13/01

2) SAIL----------uptrending stock with a pullback, I hope its bullish engulfing candle pattern on 13/01

Waiting for your reply.....

 

[SwingKing]

Hi Raunak,

As per your 2-3 week swing trading set up, I have screened two scripts. Please let me know if my selection of stocks are correct as per your strategy.

1) INDHOTEL------uptrending stock with a pullback, hammer candle pattern formed on 13/01

2) SAIL----------uptrending stock with a pullback, I hope its bullish engulfing candle pattern on 13/01

Waiting for your reply.....

Sail has not given a Engulfing pattern .. it is more of a piercing one ... and in Indhotel I would have wanted the hammer to be a little more ideal (long shadow) ... for Indian Hot the patterns have formed at 38.2 retracement level ... it would have been good had it formed at 50% retracement ... for Sail though it has formed at 50% retracement ... which is good

Sail especially is looking good on the broader note ... Displaying more strength than Indian Hotel ... stop loss of 215 and 232 looks good ...

 

[tvrssvk]

Thanks a ton for your quick response.

I guess I am catching your strategy a bit......

With your help I would surely learn this strategy.

Once again thanks a lot for all your time and patience. I really appreciate.....

 

[tvrssvk]

for Indian Hot the patterns have formed at 38.2 retracement level ... it would have been good had it formed at 50% retracement ... for Sail though it has formed at 50% retracement ... which is good

Would you please clarify on retracement level.....what levels are this exactly....where can I view retracement level....you have not mentioned in your strategy for the same.......please excuse it the question is silly.....

And finally entry point, target and stop loss with simple explanation taking SAIL as example will be very helpful, if time permits.

Thanks in advance.....

 

[SwingKing]

for Indian Hot the patterns have formed at 38.2 retracement level ... it would have been good had it formed at 50% retracement ... for Sail though it has formed at 50% retracement ... which is good

Would you please clarify on retracement level.....what levels are this exactly....where can I view retracement level....you have not mentioned in your strategy for the same.......please excuse it the question is silly.....

Thanks in advance.....

Retracement levels are viewed by taking fibonacci retracement level ... this is just an additional tool to measure strength ...

 

[tvrssvk]

Retracement levels are viewed by taking fibonacci retracement level ... this is just an additional tool to measure strength ...

Do you mean fibanacce retracement level should be 50% and above for strong buy signal. Am I right in understanding your message. Please clarify me.

Finally regarding the entry price, target price and stop loss methods explained and followed by you in simple english will be really helpful.......

 

[SwingKing]

Do you mean fibanacce retracement level should be 50% and above for strong buy signal. Am I right in understanding your message. Please clarify me.

Finally regarding the entry price, target price and stop loss methods explained and followed by you in simple english will be really helpful.......

Yes it should be at 50 or between 38.2 and 50 ... for Sail it is exactly at 50 ...

Entry - if you are planning to take up 100 positions ... then first do a probe test ... this means .. first buy only 20% of your position once the stock crosses previous day's high ... If you then continue to see the stock showing strength over the past 2-3 days, then increase your position. This way, even if the stock goes against you, you will have less loss as you have invested only 20% of your position at first...

Target - I dont believe in target's ... so it's upto you when you want to exit .. or you can use your strategy ...

Stop loss - previous swing high ... or you can take 61.8% fib level ...

Tc

 

[tvrssvk]

Thanks a lot!!!!

I appreciate your valuable inputs on entry and stop loss.

:clapping: