Australian (ASX) Stock Market Forum

Reply to thread

Hi,


Heres some of the things i use to determine an entry, some of you may agree some may not.


I watch for candlestick reversal patterns coupled with stochastics.

I double check the chart i'm viewing which defaults at 6mnths (this just suits me and my timeframe) - but I also check the chart over alonger period to make sure i am not missing anything in terms of trends, support and resistance.

I take previous support and resistance into account.

I take into account the major moving averages like 50,100,250 SMA as these can quite often become targets for support and resistance.

I listen to the finance report in the morninig news, reason being alot of other people do so when the US has a crap day quite often we do to, this could change my mind on weather to take that position on that day or not.

I take into account the last few days trading, whats does the volume tell me?

I also take into account MY last fews days, if i have been busy with work and my kids have been driving me crazy then i'll wait untill i am sure i'm ready :D


I like to keep things pretty simple.

there are some other things i also take into account but these are some of the main things i do when selecting my entry.


cheers


Top