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 :)
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