Kreslik.com - traders community since 2006

This is just a collection of charts that will hopefully inspire people to trade using closing prices.

Gaps in the opposite direction indicate a strong change in direction.

The triangular moving average works well as a trend line, if you're into that sort of thing:

Where are the down gaps? I'm sure they're coming

'2' is a line chart, '3' is basically a line chart

Know where you are and where you are going
when trading small charts.

Daily chart of Costco:

Tesla coming in with the head fake . . .

Nice move

The two things that you can do to insulate yourself from negative movement are:
1. place trades based on 2/3 of your account:
if price moves $12 then you make or break $8.
2. use Alias' 1+1+2 entry progression:
if you're terribly wrong then you are only in it with 1/6 position sizing (-$12 = -$2)

Max size when you are right, min size when you are wrong.

If you are going to trade a chart like this then you need to take a look at the swing lengths and come up with a range in which you are willing to take a reversal trade.

I would not go long shy of a 40 pip down-swing:

5 minute chart of GBPNZD:

I measure from the last '3 on left, 2 on the right' swing:
so that we are all on the same page:

There was no set low swing at the time the '45' was marked on the chart;
if you're wondering about that.

Either I'm off by a few pips or the market just up and decided to make baby swings for the rest of the day

Baby swings, just as I feared. . .
maybe we'll see a move to fiddy-eight next: