Trade i did on MQG here is the video...
http://www.youtube.com/user/scilliams?feature=mhum
:)
About Me
- Scott Williams
- I am a young invester/Trader, i mostly focus on Short term or Intra day trading on the equities or Forex markets. I have recently completed my Bachelor of Commerce double major in Finance and Property. I have also completed my RG146 in securities and Financial planning and while trading is a passion my desire is to work within the stockbroking industry or as a trader for an investment bank. This blog I have set up to help share ideas to others on trades and tips i have picked up from my time in the market. I hope you enjoy my blog and some of my ideas :)
Tuesday, September 28, 2010
Sunday, September 26, 2010
Gold
Looking at the gold chart all you can do is think WOW that is a big rise!
We seem to keep wanting to short gold but patience is probably the best way to deal with this chart. Obviously $1300 was going to be a significant level but do we really think it will stop there? I DONT KNOW!
I have just done this chart to show the first major range on gold reached 150% and pulled back. I have drawn a horizontal black line at this level and another one at 161.8% of that move. To me a parabolic rise like this only ends going one way and that is down!
When or where from is the more refined art of this 'top picking' game. I certainly think gold could push through $1300 and even up to $1350 if it rapidly accelerated north i would be so confident in saying that this is a top and a major correction will follow.
I have included the fib levels as well as the strong $1000 level on the chart with a repeating range. These would be the areas i would watch as a profit level. Should gold begin to make any lower swing tops i will begin to short it and try ride it for a couple months down to these levels.
But this will develop in time :)
I will put up some more charts soon :)
We seem to keep wanting to short gold but patience is probably the best way to deal with this chart. Obviously $1300 was going to be a significant level but do we really think it will stop there? I DONT KNOW!
I have just done this chart to show the first major range on gold reached 150% and pulled back. I have drawn a horizontal black line at this level and another one at 161.8% of that move. To me a parabolic rise like this only ends going one way and that is down!
When or where from is the more refined art of this 'top picking' game. I certainly think gold could push through $1300 and even up to $1350 if it rapidly accelerated north i would be so confident in saying that this is a top and a major correction will follow.
I have included the fib levels as well as the strong $1000 level on the chart with a repeating range. These would be the areas i would watch as a profit level. Should gold begin to make any lower swing tops i will begin to short it and try ride it for a couple months down to these levels.
But this will develop in time :)
I will put up some more charts soon :)
BHP
Here is a chart i did on BHP for a friend.
Higher lows and looks to be in a bit of an uptrend but it will be coming into that trendline and i would maybe expect it to reject and could get short from there?
Will be interesting to see how this week plays out but im sure we will have plenty of good opportunities to make some dollars :)
Higher lows and looks to be in a bit of an uptrend but it will be coming into that trendline and i would maybe expect it to reject and could get short from there?
Will be interesting to see how this week plays out but im sure we will have plenty of good opportunities to make some dollars :)
Friday, September 24, 2010
Range and Swing Trading Video
Hey Guys
Sorry i always forget to update this frequently! it must annoy so im sorry i will try do it more and more. Although i am very active on twitter so if your on there just buzz me and ask me to explain something and im more than happy to post charts or video up here or youtube to try explain my crazy antics... as im sure my desk explains 'organised chaos'
Anyway here is a video i did today on the range and swing trading i try and do.
http://www.youtube.com/user/scilliams?feature=mhum
If you want more information and videos about this trade the trade is excellent and has some videos on his site under ranges
http://sites.google.com/site/tradethetrade/
I will flick up some charts this weekend and more frequently as i now have the profit source so i will try be more organised with my analysis etc...
Sorry i always forget to update this frequently! it must annoy so im sorry i will try do it more and more. Although i am very active on twitter so if your on there just buzz me and ask me to explain something and im more than happy to post charts or video up here or youtube to try explain my crazy antics... as im sure my desk explains 'organised chaos'
Anyway here is a video i did today on the range and swing trading i try and do.
http://www.youtube.com/user/scilliams?feature=mhum
If you want more information and videos about this trade the trade is excellent and has some videos on his site under ranges
http://sites.google.com/site/tradethetrade/
I will flick up some charts this weekend and more frequently as i now have the profit source so i will try be more organised with my analysis etc...
Tuesday, September 21, 2010
CTX Update
This is my CTX chart as you know if you read this blog.
Anyway this is why i took a short position on CTX where it is today. Stops to be tight would be just over the 12.60 area but to give it a lower double top/double top scenario i would look to put stops over 12.75 (previous highs in April)
Lets see what the market wants to do. Purely speculative and no lower swing top to confirm this trade!
Anyway this is why i took a short position on CTX where it is today. Stops to be tight would be just over the 12.60 area but to give it a lower double top/double top scenario i would look to put stops over 12.75 (previous highs in April)
Lets see what the market wants to do. Purely speculative and no lower swing top to confirm this trade!
Sunday, September 19, 2010
NCM Turn Dates
Hey,
I am sorry i didn't actually put up a chart and i only will share this here.
Although this trade has not worked due to the fact it broke the highs it made on Friday's turn date i have also included another chart on a weekly view.
These dates all lined up as showen on the daily. There were also dates coming from a weekly and monthly timeframe for NCM and why i was taking Position 1 short trades. We are still in a small speculative short but those stops are really wide for now.
Anyway thought i would share this and i think its and excellent example why you cant just rely on time or 'turn dates' as they obviously don't always work.
This chart is just my weekly chart showing the trendline on the channel and how price is coming to the top... there are a few repeating ranges here but i have not included them on the charts.
I will try updating more regularly :)
I am sorry i didn't actually put up a chart and i only will share this here.
Although this trade has not worked due to the fact it broke the highs it made on Friday's turn date i have also included another chart on a weekly view.
These dates all lined up as showen on the daily. There were also dates coming from a weekly and monthly timeframe for NCM and why i was taking Position 1 short trades. We are still in a small speculative short but those stops are really wide for now.
Anyway thought i would share this and i think its and excellent example why you cant just rely on time or 'turn dates' as they obviously don't always work.
This chart is just my weekly chart showing the trendline on the channel and how price is coming to the top... there are a few repeating ranges here but i have not included them on the charts.
I will try updating more regularly :)
Saturday, September 18, 2010
Tuesday, September 14, 2010
Re Evaluation
Hey Guys,
Been an interesting start to the week so far. I have been bit busy with a few things but markets not providing the opportunities i would like. I actually am getting a new charting software which im really looking forward to so i will update more charts when i have that.
But the market really isnt playing into my bias at all at the moment so im thinking i will stick to the day trades and re evaluate as we become more clear with the direction. Over night at this stage is a gamble and i dont like pulling the leaver im the house thanks :)
So i might pop a video up later on or something on a couple day trades :)
Been an interesting start to the week so far. I have been bit busy with a few things but markets not providing the opportunities i would like. I actually am getting a new charting software which im really looking forward to so i will update more charts when i have that.
But the market really isnt playing into my bias at all at the moment so im thinking i will stick to the day trades and re evaluate as we become more clear with the direction. Over night at this stage is a gamble and i dont like pulling the leaver im the house thanks :)
So i might pop a video up later on or something on a couple day trades :)
Friday, September 10, 2010
Update on the swings
sorry guys i have been away a bit this week. been slack i know but when the market is crappy i dont like being to bullish or bearish as i have found i dont have to be in a position. i was very scalpy so that was great but until i get a much clearer perspective on the markets i dont like giving to much to people.
Anyway i thought id just post my standard XJO chart for you all to see and isn't it interesting how its 100% in both time and price... could be nice for a turn but lets just see. it could keep going and be equal to the last run up... wouldnt that be nice for the bulls...
anyway good week here and enjoy the charts ill try get a few more up :)
Anyway i thought id just post my standard XJO chart for you all to see and isn't it interesting how its 100% in both time and price... could be nice for a turn but lets just see. it could keep going and be equal to the last run up... wouldnt that be nice for the bulls...
anyway good week here and enjoy the charts ill try get a few more up :)
Thursday, September 9, 2010
SDL
This is a stock i have held in my cash account for a long time and one i have gotten many family and friends into. Excellent company with excellent potential. The announcement the other days regarding the MOU with chinese for the railway was a huge step forward in the project so i thought i would elaborate the plans better through charts for those that are wanting to take profits along the way.
I love the stock long term and holding until production will be my target but as you all know i do trade and do charts so i thought i would post a few for this one...
Please make your own decisions and no advice is given. Remember you need to sell to make money but its up to you when you do that :)
this chart shows the cycles of a stock and generally how things work..
These next 2 just show simple repeating ranges and profit levels using support and resistance...
Happy trading guys :)
I love the stock long term and holding until production will be my target but as you all know i do trade and do charts so i thought i would post a few for this one...
Please make your own decisions and no advice is given. Remember you need to sell to make money but its up to you when you do that :)
this chart shows the cycles of a stock and generally how things work..
These next 2 just show simple repeating ranges and profit levels using support and resistance...
Happy trading guys :)
Monday, September 6, 2010
AUD/USD
Chart for AUD/USD 6th of september.
Not only are there quite a lot of significant turn dates happening on this date but i see a strong down trend line from the highs back over 94c (down trending pink line) with a steep rising wedge on the 1 hourly. It is a speculative position but i have taken some shorts with higher high stops... More as it progresses.
Not only are there quite a lot of significant turn dates happening on this date but i see a strong down trend line from the highs back over 94c (down trending pink line) with a steep rising wedge on the 1 hourly. It is a speculative position but i have taken some shorts with higher high stops... More as it progresses.
Saturday, September 4, 2010
XJO Swings...
Hey guys,
Sorry for the lack of updates i was a bit out of wack this week after the conference all weekend and didn't feel in sync with the market. Certainly felt like a random week so trying to spend some time doing a few charts and getting my head straight for the week to come!
Anyway this is my swing chart i keep updating. We are in a range but i mean this certainly could start to suggest we might keep on moving on up?
There are some significant turn dates monday and also wednesday so i guess the smart thing to do would be to wait and see? but certainly will be an interesting week with the US having a holiday...
anyway ill try get a few more charts up with a few ranges :)
Sorry for the lack of updates i was a bit out of wack this week after the conference all weekend and didn't feel in sync with the market. Certainly felt like a random week so trying to spend some time doing a few charts and getting my head straight for the week to come!
Anyway this is my swing chart i keep updating. We are in a range but i mean this certainly could start to suggest we might keep on moving on up?
There are some significant turn dates monday and also wednesday so i guess the smart thing to do would be to wait and see? but certainly will be an interesting week with the US having a holiday...
anyway ill try get a few more charts up with a few ranges :)
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