For my entries on swing's, I use a combination of EMA cross overs (daily chart = 5 or 8 crossing above 13 EMA, 30 minute or lower chart = 5 or 8 crossing above 34 EMA). Keep in mind, for the best result from the cross over, the cross should occur during a short term up trend... typically means it is likely to continue once the cross occurs. Combine this with RSI, MACD, and %R indicator analysis, and the fibonacci retracement clusters for entry zones. Also, symmetry or "measured move" analysis is a good addition.
I'll post more chart's describing the above with examples for clarity. Describing entries is always a case by case, but the base strategy for any trader should still apply.
I read a lot of books of trading and finance in general. But the books that helped me shape my trading strategies are : "Trend Following" by Michael Covel, and the "Ivy Porfolio" by Mebane Faber. Learning about relative strength ranking/market time and trend following was a real eye opener for me. The strategies are simple AND profitable. I enjoy charts such like yours and this one, that help investors pick the right time to invest and stay on the sideline. I'm always learning new things from the users here, and make sure to share any info that might help anyone here. This a great community. :)
and the reason I love it so much is it gives me minimum expectations by pattern and an objective approach, where I can set stops and initial take profits. I believe people get to caught up with the academics and exact wave counts when all you have to do is count to 5's and 3's(look at the s&p five waves down and at least a minor 3 wave correction has started with minimum expectations using EW and Fib projections) Intermarket Analysis gave a warning trend was in for at least a minor correction,I believe a chart of mine shows that. Sorry for the long write up but this is the only place I get to shre my ideas and hopefully get feed back. I am really interested in using moving averages, which I do not so any comments and advice would be appreciated.Using Fibs you must know the work of Caroline(Fibonacci Queen) I am assuming. thanks in advance.
I am certainly familiar with Carolyn's work. I subscribe to Real Money (not Real Money Pro), and she contributes daily setup material there, as well as her main site. I'm actually reading her book currently, but I've been familiar with Fibonnaci patterns and setups for some time now, and I've continued to incorporate components of it in my trading style. I have enjoyed her style and presentation of writing, making it simple and quick to understand her thought process.
Since you've checked out my site, I recommend going to the "Resources" page found at- http://mainstinvesting.blogspot.com/p/resources.html - to find all sorts of other material I've read, some I follow consistently, and other information is simply for knowledge building.
I follow many indicator's as well as you mentioned. Currencies, bonds, copper, Brent/WTI/ASCI spots and futures (ASCI is where Saudi oil is pegged), Nat Gas, metals, 321 Crack spreads, Transports, SOX, VIX, etc. Of course, not all indicators matter as much as others on certain days or seasons, just providing some insight into other things I look at.
I would add Gap analysis to one of my most used strategies, especially for index trades and moves. The S&P Futures market is one of the most important when it comes to Gap filling and determining near term movements (from my experience). I have quite a few posts on my site about that, and more will certainly come.
Not sure if you are on Twitter or StockTwits... if so, sharing idea's with notable investor's is rather easy on those platforms. I'll follow your work as well as I like your charts.
As for the CMT, no I don't have the certificate, but I am strongly considering taking the first exam to see how it goes. I think it has value, and certainly provides more credibility. However, I don't think it's absolutely necessary to get it - it just depends on one's circumstances and their career path.
Thanks for the feedback on the site. I'll add more content this week/weekend on the Resources page. If you have any site's, books, or tools you wish to share, let me know. I'm always on the search for valuable resources.
And on a side note, my comment in the chart should read "The 13 month MA may be crossing below the 21 month" instead of the opposite. Brain fart on my side, but either case, it present's the potential cross.
wbrteam should have caught that and fixed it in their republish! They should take note when taking someone else's chart - understand it first. haha