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I traded them both as a swing trade and as a position trade. Here are results of these trades for illustration purposes.
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3 Easy Ways To Make The Classic 9/30 Trading Setup More Powerful
Skip to content Swing trading strategies are mostly based on technical analysis of stock market charts. Cup with handle chart pattern strategy The classic swing strategy is to buy a breakout at this horizontal price level. Strategy for bearish pennant in a downtrend The basic rule how to trade a bearish pennant is to sell short immediately after a breakdown of support trendline of this chart pattern.
This option can be used when: A breakout style strategy is too aggressive or A market is in a downtrend and does not support a long breakout. Then, you have a spear, a more potent weapon with greater range.
This is why top traders never stop improving their trading methods. They try to improve their trading with different tools and observe their results.
The Strategy
This setup uses two moving averages :. When attempting to improve a trading setup, never forget its premise. It seeks to align itself with the prevailing market trend. We have two different tools looking for similar price action behaviour. The setup bar in this example was not only below the 9 EMA. It was also entirely below the 30 WMA. Hence, the bearish momentum was evident and might have deterred some traders. However, there was a solid redeeming factor. The setup bar finished as a strong bullish trend bar despite the bearish opening gap.
That was a strong bullish signal, not to mention the trend line support. Congestion areas are excellent support and resistance areas. They offer great value for any trader looking to improve their trading odds. Here, the dual moving averages helped to clarify the raw price action.
Time Tested Classic Trading Rules for the Modern Trader to Follow - Traders Log
In the process, they also assured us of bullish undercurrents. Be careful when analysing volume.
If you are not confident of your price analysis, adding volume to your arsenal will only confuse you. But if you are skilled in reading volume signals alongside price movements, you have a great deal to gain. There are many methods to use volume in market analysis. Here, you will see one of the most popular methods in action — the volume spread analysis VSA. If you are not sure, please.