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MAGENTA MA - 3
day weighted MA of close - signifies price
DARK BLUE ( upper ) MA
- 10 day moving average of the highs
DARK BLUE ( lower ) MA
- 8 day moving average of the lows
These form a moving average
channel ( from Jake Bernstien Seminars )
and are areas of support and
resistance. They can signal a trade by themselves or confirm a signal.
A signal is formed when 2
consecutive bars form completely above the 10 day or below the
8 day MA line.
RED MA - 40 day weighted MA of the
close. Adds another point of support and resistance.
CYAN MA
( or light blue(?) )- this ones tricky and is used as the primary signal
line.
-a 9 day weighted MA of the 10 day MA of the
highs- it happened by accident and
I was using it for a week before I realized it. What matters is , it works
for me!
It tracks very similar to an 18 day simple MA of
the closes, but seems to react quicker .
A signal is formed as the Magenta 3 day
MA crosses the 9 day Cyan MA. I refer to this
as
(T) today. A trade can be entered on T+1( the day after
T), using whatever entry rules
you feel comfortable with. This is vague, but I experiment
with different entry rules that may
include, but certainly is not conclusive:
SOME RULES FOR ENTRY:
-
No entry-does not look or feel right
-
MOO
-
MOC-down trending , expect market to open lower tomorrow to continue trend
( opposite for an uptrending market )
-
Enter at T +1 at T 's close (Remember T+1 is the entry day) (T is the signal
day )
-
Enter at T +1 at T's open
-
If not filled in previous 2 entry techniques each succeeding day becomes
T+1, for 3 days only, then signal negated-look for other opportunity.
-
Enter at T 's high/low oe (x) tics above
-
Your IDEA!
EXIT STATEGIES ( stop loss )
-
Dollar stoploss
-
T 's high/low
-
Recent support / resistance
-
Stop close only ( on above )
EXIT STRATEGIES ( profit )
-
Support /Resistance
-
Rounding Bottom /Top
-
Trendline break
-
Moving Average crossover
-
News ( upcoming crop /livestock report )
-
Candlestick formations
ADDING ON TO A PROFITABLE TRADE ( coming soon )
-
studying this now with Dr. Bill Williams books
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