Trendfriend.

Many thanks for reply.

I'll take on your points and start looking at different time frames, i must admit i wasn't really doing this.

I always have stops in, i believe sometimes they are to close to a trend line and not major support.

Heres hoping…

Chief,

I do generally go for the same stocks as before, perhaps that my i'm not consistent. I'm going to try and spend more time on trading very soon.

Monkeyz,

Many thanks for the method, i'll have a look.

Monkeyz
Thanks for the detailed response, I will look into fxpro.

I'm currently using IG Markets for all my trades, and using their free charting functionality to help with my entry and exit points on each trade.

Chief

I use FxPro Ctrader as my main charting platform and execute my trades through CMC. With regards to trading I'm almost exclusively FX these days. I have several watchlists with the major pairs that I'll look at each morning. Screenshot below:



dl.dropboxusercontent.com/u/24866576/Dec...0-16-12%20Layout.png

The strategy I've been using this year is an Ichimoku one and uses the 5M and 1H chart. Price below the cloud on the 1H = bearish, then when price crosses beneath the cloud on the 5M you take the short with a stop above the last swing high. I use the RSI as a sense checker e.g don't take the short if the RSI is oversold and use common sense when looking at the chart i.e. 1H below the cloud but price is making higher highs then I'll tend to avoid them.

Key is not to over trade and not to get greedy. Set realistic targets (i usually go for the last swing low on the 1H if short) and this is sometimes "optimistic"

As for Tullow... perhaps a cheeky order above that last swing high at circa 219 with a stop below 187.



dl.dropboxusercontent.com/u/24866576/Dec...3_20-49-22%20TLW.png

Some inverted hammers/doji on the longer term monthly chart.

All the best
M

LTW/Trenfriend/Remo and others

I hope you dont mind me asking this rather silly question.

I'm a novice as some of you may have gathered

How do you guys screen your stocks? using software or do you stick with ones you have traded historically?

Hi Longterm,

i'm good thanks...
In terms of trading techniques, i can only speak for myself.
I just really simple methods...just the basics really tbh.

Trendline, rsi breakouts, supports. Support and resistance levels, bull/bear flags. moving ave's etc...
I find the simple indicators and methods work best...off course get them wrong at times! Glen for example

If you find too many trades going wrong, look at the chart in longer time frames, weekly and even monthly.
Avoid trading against the trend imho....as that's harder to win....
I would say is keep going....i think you know quite a lot more about technaical's than your making out...lol we must keep looking to improve, you will winning ways eventually.. just make sure you have stops for protection, and don't get tempted to gamble, discipline is vital imho;)
ATB, and btw i replied to your mail... maybe you did't see it...

Regards,
Trendfriend

Trendfriend,

I'm good, hope your ok? still trading I see.

I'm trying to trade more, the hardest part is making money consistently.

I am doing the 1,2,3 low method. It seems to work, but i'm around 50/50 w/l, trying to improve how i do it?

I am just starting to read the ramki book on elliots wave to see if it helps.

I notice that not many people are posting nowadays, are they on the chat, or are people not trading anymore?

It would be nice to discuss methods of trading. I've gone through the chartsviews trading section but nobody appears to discuss methods.

LTV

Hi Longterm.
Hope your well.

I make the RSI break out yesterday. According to my chart anyway!
You are correct this is struggling today....
Ideally would have been a nice to have a rise on the open which did not happen, and yep, this did not close above the 50 day.
It did close above the 20 day, if it fails to close above the 20 day today, i will close this trade..
ATM my stop is around that red line on the chart at 194p.
Let see if it can bounce back and respect that RSI breakout

Regards,
Trendfriend.

My chart shows that TLW broke the RSI trend line on the 26/11/15, it then retested on the 30/11/15 and now is above, however, the price hasn't broken the trend line yet though.

It couldn't close above the 50sma.



It seems to be struggling today.

This chart is delayed, but this has moved above the 20 & 50 day sma, the RSI also looks like its breaking out.
So, i long here, maybe should have waited to see how it closes today, but will add on close above the above the moving ave's.
Stops below 200p for now, will move to profit if it can get above 220p.

Regards,
Trendfriend.

Tullow also looks like an RSI breakout is possible. This needs to break the 20 & 50 day sma for entry.
208p for a long entry. Scalp only imho...Lets see how it opens tommorow.
You also have some RSI div's on the weekly...
Again stops are a must, especially as this is in a down trend, and it well only could be a bull trap..

Regards,
Trendfriend.

Trendfriend,

That was a good call on Tullow 09 Nov 2015 11:53.

I didn't trade it, still getting used to set ups.

Have you done any posts on how you trade? I tried to look on your post history, but it doesn't seem to go back that far.

I can see you use extremes of candles for trendlines and it appears you use the sma 20 & 50. Its just how you tie it all together?

stuff on the "tinterweb":

uk.finance.yahoo.com/news/why-tullow-oil...rging-143210648.html

Surprise rally here...no idea why....
Looks like it wants to do a 1,2,3 low breakout...
uk.advfn.com/p.php?pid=chartscreenshotsh...4QwI=&symbol=L%5ETLW

Except i see a problem here....off course i could be wrong...
To me it looks to me like a bear flag on the weekly.....
if you look carefully the whole trend down a has been the same, bear flag consolidation followed by a drop...
At some point this will stop going down... just not convinced its now....
this has results and update this week... so if your long, or going long i think use protective...
would not be shocked to see some selling into the close, leaving a bearish candle here imho...
uk.advfn.com/p.php?pid=chartscreenshotsh...N8%3D&symbol=L%5ETLW

Regards,
Trendfreind.

This failed at the trendline again...
A move to 200p area very posible...
uk.advfn.com/p.php?pid=chartscreenshotsh...OAwKD8JEcbN0uSXKs%3D

Reagrds,
trendfriend

Hi Longterm, hope your keeping well.

Thanks for pointing that out to me, your correct, i use Simple moving Average(SMA), not EMA...
Will type it correctly in future, thanks for pointing that out...
I just closed this and banked for today, the trendline is at around 239/240p (dropping daily)...be back in if can break that level... happy to bank a small profit for now...

btw, we are all learning everyday...
Be lucky,
ATB
Trendfriend.

Trendfriend,

Many thanks for all the charts on various stocks, i'm still learning, but it's much appreciated

Your message states ema (exponential moving average) but your chart appears to be using sma (simple moving averages). The gap between the 20 & 50 on the tullow chart below, looks bigger than what i have on my ema chart.

Perhaps you could confirm please?

See tullow chart with ema and sma.






Thanks

uk.advfn.com/p.php?pid=chartscreenshotsh...3zE=&symbol=L%5EGENL

This is speculative but i'm long here, as its just broken above the 20 day ema,(the chart is a bit delayed, but this has broken the 20 day ema) and retested it just now at 225p and it took out the 50 day this morning as well.
Volume is the important here, needs a big volume day to break that trendline imho....

My stop for now is at 200p, but i will move it to b/e on a bounce...

Regards,
Trendfriend.

This is the correct short term trendline imho... and this did not brreak above it....
This could go to 120/130p area, tht would be the next place to go long..
The moving avearges are holding this up atm... if they break this should move down quickly imho..
This looks bearish imho..
uk.advfn.com/p.php?pid=chartscreenshotsh...D&symbol=FX%5EGBPUSD

Regards,
Trendfriend.

That trend line break is only a short term trend line break.

dl.dropboxusercontent.com/u/4899609/far%20view%20tullow.png

theres 3 trend lines that can be drawn on this.
short term...break out and respecting it currently.
medium term...this is around 400 so long way from there.
long term.....this is around 900 so really far away from there.
so based on this you would use the short term trendline for trading as the others are way to far away.
This shows how far tullow has fallen...shocking ..
There is a 123 low forming on this share currently


dl.dropboxusercontent.com/u/4899609/tlw22ndoct2015.png

so look to go long above 268 and a target of the 200ema , but early entry would be done for me at a finish above 230 with stops below 210 if activated.

Thinking loud.. where do I go long..

@ 206 which is 50MA or at 191 support... attached pic... mostly 191p I may go long.

Fair enough Longterm, i have seen trendlines drawn that way, using closing prices...not going to say it's wrong, or right for that matter
I like to use the top of the candle's as it represents the whole days movement in a stock...
Anyway you could well be right, i'll agree with you if we close above the 20 and 50 day on the weekly

Until then this could well see the lows, and below imho...

Regards,
Trendfriend.

Alternative view.

Far out man!!



Closer



Close Up



Based on closing prices, it appears to have broken the trendline and closed above. It has then retested the breakout yesterday, which coincided with the 50% fib from the start of the move.

On the otherside, it has created a 1,2,3 high.

ok, Tullow oil, i have done well from this and Glencore, but one must trade what you see, and past sentiments usaully results in losses.. so with no emotions and positions here atm we go..

uk.advfn.com/p.php?pid=chartscreenshotsh...Bj+zaAqDyY1rYAoBeHs=
The daily, looks good, held above the moving averages today, and could be said that's a bull flag in play??

uk.advfn.com/p.php?pid=chartscreenshotsh...DIivXBH4iX1/+UeleHA=
However this looks a bit like Genel a few days ago, needs to break that down trendline for real strength imho..

uk.advfn.com/p.php?pid=chartscreenshotsh...2Fl51hJKD6aiSzPbw%3D
The weekly shows the bearish mid term outlook here, still below the 20 day ema, that shows bears still in control here...

summary..
uk.advfn.com/p.php?pid=chartscreenshotsh...LmNS8TUhmylkbOTbo%3D
120p is a real possibility here imho..
if you do take a position wait to see if the rsi tests and holds support, and the share price holds at least one of the moving average's (shown on the first chart). I'm waiting and watching atm...
Pull up your own charts folks and see what you think, as usual dyor,
regards,
Trendfriend.

Sorry Paitech, don't have my laptop to access charts!
Try and take a look this evening...
If you do take a position, i would advise to put a stop....below support...as drops are big on these stocks atm.. can always buy again lower if you get cut out...

Regards,
trendfriend.

Not sure if it will hold 211 as 20dma or wait till 191p

TF,
Hows charts for tlw.
Iam thinking of taking position.
Ta
G

This has also managed a the rsi breakout...
first target 207p.

uk.advfn.com/p.php?pid=chartscreenshotsh...gqHJrE=&symbol=L^TLW

Regards,
Trendfriend.

Will it turn down at 224 or will it break it?

Is this a 1-2-3 set up?

Chart attached.

ta
G

another gap up today..

for info... TLW
www.ft.com/cms/s/0/f7033354-e27d-11e4-aa...auddev#axzz3XHQRH5Dn

From this weeks share tips


dl.dropboxusercontent.com/u/4899609/tlw14thapril2015.png

This looks good if it can break above 740p
if it does break above 740p, keep an eye on the 50day at around 756p.
uk.advfn.com/p.php?pid=chartscreenshotsh...6zwQ=&symbol=L%5ETLW

Have a good week folks,
Regards,
Trendfriend.