I have no computer programming skills. I wish I did, but I don't, so for now, the best I can do with regard to automation is Microsoft Excel. Over the last 18 months, this is what I have used to build my process. Basically, I have appliedn my technical and statistical thought process and formulated it in excel, based on, among others, a combination of prices, momentum and patterns.
Without having to physically review a chart, I am able to pick up an automated instruction on a potential trade or key level.
Today I provide 2 examples of however my excel sheet guided on potential trades coming into this week (for both Monday and Tuesday). The 3rd example is a manual idea but shows the reliability of the 50-EMA as a line of defense.
#1. Facebook: On Monday (pre-market), my data automated suggested: "Steady upward trend but weaker on lower time frame. Look for support at or just below 50-EMA followed by a reclaim to trigger a rebound buy". As you will see, the price traded into the 50-EMA on Monday and Tuesday (the lows of the day found support here) while Tuesday saw a strong close with follow-through on Wednesday (today).
#2. #BHP: This morning (pre-market) my automated data suggested: " Consolidating within an upward trend. If the 8-EMA Has been breached, use the 21-EMA as a potential buy range''. As you can see, the low of morning was right on the 21-EMA at 43600c which was followed by a rebound to 45200c. If you are an active trader, that's a great intraday cash flow opportunity.
#3. BID: The share has acted well, having flowed according to my ideas on both the long and short side. As I came into this week my thought was the 21-EMA could be breached and that the 50-EMA could offer a level to buy. As you can see, the price found support at the 50-EMA on Monday and Tuesday before rebounding today for 1300c upside to the highs of the day on Wednesday.
It's not possible to review all names manually however partly using automation as a guide can add great value to manage risk and possibly generate cash flow.
Until next time.
Regards
Lester Davids
Without having to physically review a chart, I am able to pick up an automated instruction on a potential trade or key level.
Today I provide 2 examples of however my excel sheet guided on potential trades coming into this week (for both Monday and Tuesday). The 3rd example is a manual idea but shows the reliability of the 50-EMA as a line of defense.
#1. Facebook: On Monday (pre-market), my data automated suggested: "Steady upward trend but weaker on lower time frame. Look for support at or just below 50-EMA followed by a reclaim to trigger a rebound buy". As you will see, the price traded into the 50-EMA on Monday and Tuesday (the lows of the day found support here) while Tuesday saw a strong close with follow-through on Wednesday (today).
#2. #BHP: This morning (pre-market) my automated data suggested: " Consolidating within an upward trend. If the 8-EMA Has been breached, use the 21-EMA as a potential buy range''. As you can see, the low of morning was right on the 21-EMA at 43600c which was followed by a rebound to 45200c. If you are an active trader, that's a great intraday cash flow opportunity.
#3. BID: The share has acted well, having flowed according to my ideas on both the long and short side. As I came into this week my thought was the 21-EMA could be breached and that the 50-EMA could offer a level to buy. As you can see, the price found support at the 50-EMA on Monday and Tuesday before rebounding today for 1300c upside to the highs of the day on Wednesday.
It's not possible to review all names manually however partly using automation as a guide can add great value to manage risk and possibly generate cash flow.
Until next time.
Regards
Lester Davids