timwest

ROWAN COMPANIES RDC DAILY - TREND TRADING METHODOLOGY

NYSE:RDC   ROWAN COMPANIES PLC
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EDUCATIONAL PIECE:

Using the "trend indicator" to manage entries and exits together with CCI .

1. 2-month high/low in RANGE MOVEMENT (my TREND INDICATOR) defines the trend. \
1a. Uptrend if 2 month high. Downtrend if 2 month low.
2. Wait for an oversold condition ( CCI -100) in an uptrend. Wait for an overbought condition ( CCI +100) in a downtrend.
3. Wait for the Previous Day High to break to enter long in uptrends. Wait for Previous Day Low to break to enter short in downtrend.
4. Risk 3 Avg Trading Ranges (using 11-day average true range , ATR)
5. Exit when CCI hits +100 for longs, or -100 for shorts.

Note the enclosed trade setups, entries and exits.

Tim 11:31PM EST, Thursday May 29, 2014
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
It looks loke a nice system fro buying pullback and selling retracements in trends.
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