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This thread is dedicated to swing trading Mr.Market's latest Top Five picks.
EDIT: For the benefit of new readers of the thread, please note that this thread is now dedicated to swing trading current Mr.Market Top 5 candidates solely by using the 50% Fibonacci retracement of a move from a significant low to the latest high. Target is 15%, no stop. Retargets will occur on every new 50% retrace signal given. The first post in this thread that introduces the 50% concept into this thread is here http://www.mrmarketishuge.com/showpo...52&postcount=7 and the first trade of the system was in mid Dec here http://www.mrmarketishuge.com/showpo...7&postcount=14
The original setup was discretionary and based on channel theory discussed in my Scientific thread and in this thread, I will not be taking any more channel signals; only the 50% retrace signal.
My original and opening post for this thread was as follows:
"THE SETUP
1. All trades based on technical analysis as already discussed in the Scientific thread.
2. Charts must be clearly bullish, based on daily regression channel interpretation. If one of the picks has a bearish channel condition, then it won't be traded.
2. Entries will be based on the interpretation of intraday patterns and/or Fib support/resistance (pivot, S1 or S2). Pattern will be such things as inverted Head & Shoulders formations with neckline breaks, double bottoms, wedge breakouts, and bullflags. Basic Elliott Wave theory may also be applied to entries, where possible.
3. Targets will be based on channel formations and/or price level resistance and/or gap resistance, with a view to exit at any significant upper channel hit, any significant price resistance, or any gap resistance on the chart.
4. Exits will be made at intrady R1 and R2 where possible, unless conditions warrant immediate exits based on intraday patterns.
5. Stops will be used with all trades. Stops will never exceed 4% risk, and will likely average 1% risk, as they will be placed under the low of day of the day entered and moved to break even when in good profit.
Let the fun begin."
EDIT: For the benefit of new readers of the thread, please note that this thread is now dedicated to swing trading current Mr.Market Top 5 candidates solely by using the 50% Fibonacci retracement of a move from a significant low to the latest high. Target is 15%, no stop. Retargets will occur on every new 50% retrace signal given. The first post in this thread that introduces the 50% concept into this thread is here http://www.mrmarketishuge.com/showpo...52&postcount=7 and the first trade of the system was in mid Dec here http://www.mrmarketishuge.com/showpo...7&postcount=14
The original setup was discretionary and based on channel theory discussed in my Scientific thread and in this thread, I will not be taking any more channel signals; only the 50% retrace signal.
My original and opening post for this thread was as follows:
"THE SETUP
1. All trades based on technical analysis as already discussed in the Scientific thread.
2. Charts must be clearly bullish, based on daily regression channel interpretation. If one of the picks has a bearish channel condition, then it won't be traded.
2. Entries will be based on the interpretation of intraday patterns and/or Fib support/resistance (pivot, S1 or S2). Pattern will be such things as inverted Head & Shoulders formations with neckline breaks, double bottoms, wedge breakouts, and bullflags. Basic Elliott Wave theory may also be applied to entries, where possible.
3. Targets will be based on channel formations and/or price level resistance and/or gap resistance, with a view to exit at any significant upper channel hit, any significant price resistance, or any gap resistance on the chart.
4. Exits will be made at intrady R1 and R2 where possible, unless conditions warrant immediate exits based on intraday patterns.
5. Stops will be used with all trades. Stops will never exceed 4% risk, and will likely average 1% risk, as they will be placed under the low of day of the day entered and moved to break even when in good profit.
Let the fun begin."
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