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Favorite technical/chart setups


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Favorite technical/chart setups

  #11 (permalink)
 
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 JonnyBoy 
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For sure. It wasn't a criticism and I understand where you are coming from. Nice looking chart.

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TickedOff View Post
what are chart/technical setups that work the best for you? Could you include pics of what they look like/what conditions are optimal?

I like to use oversold/ overbought indicators personally with some custom indicators I created.
here is a screen shot: https://www.cannontrading.com/tools/support-resistance-levels/wp-content/uploads/2019/08/image1.png

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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 kareem40 
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JonnyBoy View Post
For sure. It wasn't a criticism and I understand where you are coming from. Nice looking chart.

No worries, was not taken as such
Thanks
K

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 teamtc247 
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Elliot Wave ABC corrections 5-3-5 or 3-3-5 ZIG Zag or the Flats. I don't think about the type.

Process oriented goals #1.
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what are chart/technical setups that work the best for you? Could you include pics of what they look like/what conditions are optimal?


One more to share.....

The swing turning points based on pattern, price support/resistance, and time-cycle ratios are especially important when the market is overbought or oversold. I use two indicators for overbought or oversold. First if the commodity-channel-index(5) is above 100 it indicates overbought. If below -100 it indicates oversold. Second the rsi(2) is averaged over the most recently completed two days. If above 85 it indicates overbought, below 15 indicates oversold. Both of these indicators must agree for the market to be overbought or oversold. i.e. a reversal signal on the swing trade time frame of one to two weeks. Each evening my software scans the futures and forex markets for overbought and oversold conditions. Beware that if the rsi(2) indicator averaged over the recently completed two days is above 99 or below 1. The momentum is so powerful it should be considered a continuation signal.

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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