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Kamis, 20 Desember 2012
9 Trading Lessons You Must Read
Presented by ITMS NEWS
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Understanding Bottoming And Topping Tails
Most traders do not put all the pieces of the puzzle together when learning and using technical analysis. Let's talk about topping and bottoming tails. Simply put, a bottoming tail is a bullish signal and a topping tail is bearish. A bottoming tail MUST occur at the lows of a chart. This means that no point on the chart in recent history can be lower. Next, the tail must be substantial, not just a little thing barely seen by the eye. Additionally, the close of the candle must be in the upper 25% when measuring from the lows to the highs. If all these factors match up, you may have a bottoming tail. The same things apply for a topping tail.
Trade Lesson: How To Locate And Trade An Extended Move
Sometimes stocks will break out or break down in a very sharp and steep angle on the charts. These type of patterns are often referred to as a parabolic move when they surge to the upside. When these patterns occur to the downside they will often be referred to as a falling knife or waterfall decline. The actual name is irrelevant, however, understanding the chart pattern is very important. As a general rule, if you ever put a protractor up to your screen from any pivot low or pivot top and the angle is more than 60 degrees it is usually unsustainable. It does not matter if the stock or commodity is rallying or declining. The technique I will show you here will help to identify when the equity is running out of steam in either direction, and will need to retrace and consolidate some of its move.
Step 1. Scan through stock charts and find a time when a stock was extremely extended from its 20 (SMA) simple moving average.
Step 2. Determine the distance of where the stock was trading from the 20 moving average. If you use eSignal charting software this can be done easily with the segment tool; simply right click, hit copy, that line will be duplicated and can be placed where you want it. If are not using eSignal, simply calculate the distance of the stock from the 20 MA and draw a vertical line to reflect it.
Step 3. Take this distance and place the line on your chart. Follow the 20 SMA with the line; if at any point the stock price exceeds the length of the line from the 20 SMA, this will be your opportunity for a trade. Wait patiently, anytime price gets above or below the distance of the line, go long or short the stock. In this example, we are looking to enter a short position when price exceeds the distance of the line to the upside. Note the example below.