sdcclark
26 posts
msg #30281
- Ignore sdcclark |
12/13/2003 2:21:22 PM
When Looking for the RSI(2) bottom and top what time frames are you uing 3 Month, 1 Month, 5 Day, daily, 60 min, 5, min etc.... And what other indicators do you use to add for confirmation to place a trade.
Thanks
Scott
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TheRumpledOne
6,411 posts
msg #30289
- Ignore TheRumpledOne |
12/13/2003 8:50:02 PM
You start with 3month/day on www.prophet.net use the Java Charts under the analyze tab. Then confirm with year/week.
You don't need any other indicators.
Here is my RSI(2) filter:
I may use "below 5" or "below 10" depending on what stocks I am checking.
Here are my chart settings:
Draw Linear Regression Channel(60) and Draw EMA(13) and Draw EMA(26) Draw RSI(2) and Draw weekly RSI(2) and draw bollinger band(20) and draw Fast Stochastic(5,3) Fast %K and draw Fast Stochastic(10,10) Slow %D
When you see the price touch the lower linear regression line along with a low RSI(2)... LOAD THE BOAT!
Also an RSI(2) bottom along with a lower Bollinger Band touch works too.
The decision when to buy is to WAIT FOR GREEN at the open. If a stock is still GREEN after the first 20 minutes or so, it is a pretty safe entry, as long as, the price didn't move up move than 3% or 4%. The alternative entry strategy is to buy 1/2 position at the open and if it confirms GREEN buy the other half. If it goes RED, just use money management and wait for the next entry.
Look at SONS this week. By entering after the lower lin reg line touch, you would have entered around $7 on 12/10 and could have sold for over $8 on 12/12 ... not bad for a couple of days. Ditto XMSR, HD, INTC, etc...
The secret is to look at the market indices with rsi(2) and linear regression... you will know when the market is bottoming and topping.
Learn to wait... be patient... then when the time is right... BUY!
Keep your radar on CIEN this week.
MAY ALL YOUR FILLS BE COMPLETE.
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sdcclark
26 posts
msg #30292
- Ignore sdcclark |
12/14/2003 7:11:34 PM
Thank You Rumpled one
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EWZuber
1,373 posts
msg #30295
- Ignore EWZuber |
12/15/2003 12:38:32 AM
CIEN looks like it is just beginning a precipitous drop, IMO.
It may hesitate then I suspect the drop will commence.
It just broke 14 month trendline support, a very significant event IMO, and Weekly stochastics are just beginning a distribution phase.
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EWZuber
1,373 posts
msg #30296
- Ignore EWZuber |
12/15/2003 12:53:19 AM
SONS has also broken TL support, a 9 month supporting TL.
Looks like it is rising to test this old support as Resistance.
I'd keep an eye out for a bounce down off of TL Res. @ $8.78 ( & rising ) or the 25 DMA @ $8.66 ( & falling ). Friday it bounced down from the 50 DMA @ $8.54 ( & rising slightly ) but is slightly oversold on Hourly chart now.
5 Minute chart shows a consolidating wedge pattern just about to come to a conclusion. From a different perspective. JMHO
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txtrapper
548 posts
msg #30303
- Ignore txtrapper |
12/15/2003 2:13:30 PM
CIEN
Weekly Stochastics(5,3) is indicating a drop in CIEN, and you don't want to bet against Stochastics.
tx
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EWZuber
1,373 posts
msg #30307
- Ignore EWZuber |
12/15/2003 4:51:20 PM
SONS bounced down off the 25 DMA in a big way today, confirming it as resistance for now.
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