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Trade Trends with Bollonger Bands and Twiggs Money Flow

T.A.Z. Trade Road Map

Chart Forum » Stocks - ASX: short term (strictly TA) » Trading Action Zone Set-ups! » T.A.Z. Trade Road Map

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gdd3
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Post Number: 805
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Monday, March 29, 2010 - 11:22 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thought I would start this sub-thread to give some examples(good and bad) of how this trader uses the T.A.Z. set-ups with other more conventional trading tools to establish possible targets; when to be in and out of the stock; to assess how things pan out verses how I 'expected' it to pan out....sort of "Road Map" as it were! Hopefully it will not only clarify some of the repeated questions I and other regular posters in this thread get about such things but also encourage others to contribute their trading insights when using the T.A.Z. set-up as a trading tool. It is not intended to be an 'ego' trip or indeed an opportunity to backstab this trader or other positive contributers on our trading style...because that is just what it is...my(our) current T.A.Z. trading style.

To start things going, here is a chart of AIX since its Double Bottom established last April/July 09. Sorry about my 'congested' looking chart though; its an unsolved problem I have with my 64bit Vista Dell computer with the I.C. program.... especially when I try to 'cram' in so much info and data... but please bare with me.

Once a chart bottoming pattern has been confirmed, in this case a Double Bottom, by a +ve 10MA crossover with the 30EMA and the 10MA crosses above the 150EMA(Aug. 13th) I am looking for the first possible T.A.Z.(T.1). This early confirmation(my 'rule')of the bottoming pattern establishes a future possible measured move target($2.12) of the pattern(which traditionally is only confirmed by action above the higher peak($1.67) of the trading range between the two lows forming the Double Bottom ...shown by the thick double orange horizontal line). Note also, prior to this point, that a downtrend resistance line drawn on the Williams%R14(yellow) was broken well before( on July 16) hinting the downtrend started at the May 11 high was over. Projection forward of this resistance now support line is useful for possible future price action support whilst the market is consolidated as you will see. Hence it also represented the level at which the Williams%R14 was at when it turned up from just prior to giving us the T.1 confirmation day. This application of oscillators (trend supports/resistance levels) is by far the best way to use them...not just % or levels alone in my opinion!

Now the first T.A.Z.(shown T.1) came a couple of weeks after the +MA crosses, from about the 50% retracement level of the trading range mentioned (~46c), and satisfied all the T.A.Z. requirements with an entry at $1.51 on Sept. 4th(all entry dates are shown with a white dot and the small blue line for the trigger level..ok!). First 'hotspot' target for T.1 was a double top of the pattern(remember the double orange horizontal line)...not a bad place to consider taking profits, right! However, if you where thinking there may be more in this move yet, and had remained 'alive' in the trade, I would now be running a 'trailing stop'(similar to one of Craig's recommendations)just below the last green up day candle before reaching the 'hotspot'target. Once rejection was evident from the 'hotspot' zone(outside trading day + next lower low day)I then look to place a stop below this 2nd down day...abt the same level as the low of the last up day green bar. Well T.1 was stopped out on the 3rd day after reaching the 'hotspot' target area (this, and future T.A.Z. exits, are shown by the pink dot and small white bar). End of T.1 trade...one way or the other!

Not long before T.2 arrives(what I call a T.A.Z.'cluster' set-up), just one week later. This type of T.A.Z. set-up I prefer the most of all as from my experience they are the most reliable and most rewarding! So entry came sometime on October 6th and with patience, and some luck on the 13th(who said 13 was unlucky)when she double bottomed above our trailing stop, we could ride her thru to at least Oct. 29th. Now during this process we confirmed the target for the larger Double Bottom target of $2.12 when she closed above resistance at S1.67(that double orange line again)on Oc.21 with the highest daily volume since this whole trend started(July 8 low). Once pass this hurdle you could set an interim target of $1.90(23c above the now support at $1.67 mirroring the move from the beginnings of the T.1 move...50% retracement). Well T.2 just failed to get there($1.90) and we are stopped out by a similar method as mentioned with T.1( trailing stop below 2nd lower low) but we are back in again with T.3 a few day's later after AIX only retraces back to and bounces from a confluence of structural supports(horizontal, uptrend and 30EMA) at about $1.67 again looking initially for $1.90 but maybe our $2.12 pattern target area. Damn, stopped out again if you hadn't taken profit at interim target price but no damage(in fact still a small profit) with our "trailing 2 lower lows after target met stopping system".

6 days later AIX breaks its (yellow) uptrend price support line HOWEVER 5 days earlier(1 day after being stopped out), note that the Williams%R14 uptrend(brown) was broken confirming likelihood of further weakness. Again, projection forward of this W%R14 line provides good temporary daily swing turns in the current upmove. Also note that our final(very much lagging) confirmation of trend weakness was given buy a -ve 10Ma 30EMA cross 11days after exit...lucky aye! This -ve cross meant we stay out of the market(from a T.A.Z. trade potential point of view) until our next +ve cross. This is to mean, however, that we miss one of the best trend moves in the longer term uptrend(still unfolding towards our $2.12 target)because AIX is support well by the $1.67 now 'pivot/balance point'.

Meanwhile, again the $1.90 interim target acts as resistance but we now have a +ve cross in place which allows the T.4 set-up. BUT, we note that this setup is given after a -ve cross below the W%R14 uptrend support line(pink) alerting caution. It(T.4) fails to bare fruit and we would have been stopped out just below the set-up day low ...no damage though...just 5c(or 2.75%)!

Once again, AIX only retraces back to its (now new)uptrend support line(double white line)just below our stop for T.4 before rallying to provide another +ve 10MA 30EMA cross two weeks later. This time we break the $1.90 interim resistance with some sort of conviction(2 higher vol. day's) to reach $2.01 on Mar.4th. Since then we have consolidated above $1.90(now support) with only two days closing below this level(immediately followed by a strong up day the next). Now the next potential T.A.Z. trade(T.5) is yet to be confirmed but once again it has come from good support and with the nature of the action since the Mar. 4 swing high favouring a corrective nature(Elliott)we should still be looking for our $2.12 first hinted back in August last year.

So, in summary, we've had 4 T.A.Z. trades so far in this move all looking for a probable/possible $2.12 longer-term target with 3 out of 4 giving us a +ve return. Only T3 failed but we did get warnings of caution from the William%R14(and 7 lower closes in a row) of possible failure(or a better and lower entry trigger?)with that signal! We still may get another positive trigger with T.5 set to finally get to the $2.12 target and some as AIX is still holding her uptrend firmly. One final comment, AIX has 'mapped' out a very 'pure' 23c trading mirror range as you can see from the orange horizontal lines. This does not often happen, especially when stocks(most pennies) go parabolic, but can be used a guide for possible 'blue-sky' countertrend swing highs and lows(in the case of retracements). We were able to establish that way back prior to our T.1 set-up and carry it forward with great confidence.



Cheers
Dolphin

P.S. This presentation is primarily for 'educational/ informational' purposes only and is not presented as investment advice...DYOR!


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gdd3
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Monday, June 07, 2010 - 11:28 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi "Interested" TAZers...

Many have asked this similar question:- "What are the essentials of the T.A.Z. Swing Trading method?" Well, like 'Life' in general, its not as complicated as some people make it, nor is it too simple, there are just variations! Those who have been following the main TAZ thread would remember that I started it some three years ago to "experiment/research" whether this interpretation of Swing Trading(Craig's) could be applied to Aussie "Pennies", i.e stocks outside the ASX200 particularly those below, say $1.00 in value. You see, Craig in his website 'summary' clearly states you should not trade (US)Pennies...Well, I believe there are differences between US Pennies and Oz Pennies so wanted to see if one could in fact apply the principals of the TAZ method to our Pennies looking for, say, a profit target of between 15% - 25% over a short time frame...anything from 2 day's to 4 weeks. Now as it(the thread and market conditions) have evolved I and other contributers have introduced their "take" on the TAZ method so here is a brief 'summary' of which postings on the main thread that I believe "newbies" should refer to to get the "essence" of what I see are the essentials for my take on trading Pennies using the TAZ method.

Firstly, if you haven't already gone to the link... www.swing-trade-stocks.com... you should read it as Craig, the "creator" of the T.A.Z. set-up refered to on the TAZ thread, explains very precisely and simply how he uses this form of trading...better than I will ever be able to do. Having said that you also might want to refer to my entries above(July 12/07 posting No.125, August 9/07 posting No's. 165 and 167) which really is a summary of what to look for (confirmations) of entry confirmations.

Secondly, in that explanation you will see how Craig, and /or his followers, only use the momentum indicators(for example...either/both ADX and William's%R...my preference being 3day PLUS 14day) as support tools for the more important candle pattern, chart patterns and chart support points for the T.A.Z. set-ups. I have introduced a few extra tools/interpretations to his 'general rules' as I've developed it to my trading style; things like the importance of the 150EMA and trendline support/resistances on the William's%R14day.

Thirdly, just to give you some more useful 'homework' from this thread you may want to read the following postings:-

Gdd3 posts No 125...July7/2007 and No's 165/167...Aug9/2007 ..."5 Major Requirements" for T.A.Z. set-ups plus explanations.

Gdd3 post No. 203...Oct.18th/2007...scanning references.

Coyotte post No. 364...Dec.3/2007...alternative Stock Scans

Gdd3 post No.233...Dec.3/2007...'Why I started this thread'

Gdd3 post No. 242...Dec.14/2007...Trading Strategy once I'm entered.

Gdd3 post No. 394...Jan5/2009

Gdd3 post No. 423...May08/2009...My prefered I.C. Scans.

That should help clarify, in essence, what I see as important re:- My take on the T.A.Z. set-ups. However, if you want further explanation/clarification please ask.

Good Trading/Education...

Cheers
Dolphin







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gdd3
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Monday, July 26, 2010 - 02:02 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



If anyone wanted an Aussie stock to view a good example of the benefits of Swing/TAZ-Trading(Dolphin's adaption), over say Positional(buy and hold) Trading, then you would choose PRU, a stock that has given us numerous, and fruitful, TAZ trades since, say, March 09 last year...in fact 10 out of 12 TAZ winning trades after classic set-ups!

To highlight the point, taking a positional trade at say on the same day as the 1st TAZ trade(April, 1st 2009 at 67c) and holding till now($2.40) you would be holding onto a paper profit of 173points, a whopping 258% increase (unrealised). However, with the TAZ Swing Trading method, and I am being strict to my entry/exit rules and not taking the maximum potential profits(as I have used in the 'buy and hold' positional example $0.67c - $2.40 just mentioned)plus included the two lost trades, the 'realised' profits from the TAZ trades comes to 204pts...or 305% increase, ie. more than the actual total price rise! The 204pts is calculated from 10 wins(total 223pts)and 2 losses(total 19pts)...not a bad risk/reward ratio at all, right!

Now, sure, highlighting a great trending stock like PRU this way, may be 'glamorfying'(if there is such a word) the benefits of TAZ to suite an argument because the question of Brokerage is not being considered and not having being at your screen more than once for the positional trade is also not being considered. It also is giving an example of a strong trend trading stock...obviously the best type of TAZ stock as Craig points out as against say an 'index' following blue chipper.

However, on the other side of the coin, the TAZ trading method allows you a different level of 'comfort' on the Trader/investors's meter because you, as a TAZ Swing Trader, are following an entry and exit plan(to achieve the results illustrated) as against say 'wearing' the pain of three huge % -ve swings against you(one in June last year, one in Jan.2010 and the another in April/May 2010) of 33%, 47% and 27% respectively if you were a 'buy and hold' investor. I know what 'pain-level' I'm would prefer to wear! Remember, I have assumed in this argument that the 'Buy and Hold' investor has done just that....no stops, no profit targets just merely hold to give the MAXIMUM paper-profit % gains to this date. Sure he may have exited earlier or used stops, say 15% or even 20%, but that would have greatly diminished the paper-profit % gains illustrated so far and then the question would be "where did such a trader get back in?". Remember also, the TAZ calculations are 'realised' % profits based on 'strick' entry and exit rules!

So here is the Chart of PRU to highlight the TAZ entries I am referring too....and the PRU juggernaut shows no sign of 'falling' over.



Hope this is of help to TAZ followers here and to prospective followers.

Cheers
Dolphin

P.S. Of course, Dolphin has not been in every one of these TAZ signals/trades as, remember, PRU is just one of thousands of AUSSIE STOCK POTENTIALS!}


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bib
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Monday, August 02, 2010 - 09:30 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Dolphin,
Thats a great example of a chart thats perfect for TAZ opportunities. A strong uptrend with pullbacks. TAZ really was meant for stocks like this where the 10SMA > 30 EMA. Best if the 150 EMA is bullish as well (LT trend).
The classic TAZ 'taking profits' exits is the trailing stop below minor lows http://www.swing-trade-stocks.com/exit-strategy.html
I use this method as its easy to apply. One i also take a punt on sometimes is where the SP has moved to an extent where the low is way above a short term moving average, ie, SP is floating on air. I appreciate that there a many good exit methods around.
Do you follow the TAZ recommended method or apply your own exits?
I am not trading at the moment as the long term trend is down. But i am still watching the market closely.


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gdd3
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Monday, August 02, 2010 - 12:39 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bib,

I'll apologise upfront for the delay but as I have a busy 'personal' schedule for the day I'll endeavour to get back to responding to your question asap. However, will say in short that I don't use any one particular 'exit' rule for my TAZ trades.

Will elaborate/explain by trying to use the PRU stock as an example later.

Cheers for now.

Dolphin


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ehmu
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Hi GDD3

just caught a couple of your posts about T.A.Z.

have you built any scans to detect these opportunities.

If so, what are you calling them, I couldn't find any searching the shared scans.

thanks



_____ n a m a s t e

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gdd3
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Monday, October 04, 2010 - 11:58 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi EHMU,

Welcome aboard the TAZ(Trading Action Zone...ammended for pennies)thread. Re your question about my scans for TAZ; please refer to the links shown in my post(No. 880) above. Sadly, I.C. Scanning capabilities at present are limiting and don't include my favoured oscillator tool(Williams%R's) as an option nor does it allow you to identify price action into the TAZ zone once a stock has broken above desired EMA's. So one has too rely on an external scan formulae using another software package.

Cheers
Dolphin


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gdd3
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Friday, October 22, 2010 - 06:09 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



VMS...AN AGGRESSIVE TAZ ROAD MAP!
---------------------------------

Some Stocks, like AIX and PRU as we have seen in the past, will provide many TAZ set-ups along the way in its strong uptrend....sort of a "Stairway to Heaven" walk/run if you would like! I wonder if VMS, shown below, is going to be another good example...well time will tell!

VMS has been a good example of how an 'aggressive' user of the TAZ Trading method could/would have used the 5SMA and 10SMA as the TAZ Zone alert area for entry. So, here is VMS's chart showing the near 'perfect' aggressive run(from a TAZ perspective) that she has provided since breaking above its 7month downtrend(Jan-Aug. and shown with thick white line)back on Aug.5th. Prior to that you will note that the first signs of a change in trend was when the price action 'poked' its head above the flattening 150EMA, the day we had a +ve cross of the 10SMA and 30EMA's.

Now an aggressive but somewhat risky TAZ trade, that is the 1st TAZ set-up after the price action has breached the 150EMA but the other two MA's have yet to cross over the 150EMA, was back on July 22nd(shown as green). However, the first conventional (and safer) TAZ set-up(T.1) came on Aug 11th after a break of the downtrend and a Rising Three candle pattern but with Williams%R14 only just below -50%...mind you, you had to be alert(and a daytrader) to jump on board that one there as she 'gapped' up 6c the next day which was to supply great support for the next TAZ(T.2), right at the confluence of the new uptrend support and the gap support lines.

T.3 was another "Rising Three" entry signal alert as was T.4(altho 4 day's) but the latter was also at the confluence of the -60% Williams%R14 line and a down trend support extension lines, both I like to use as a possible support(see second chart) if evident(not always clear).

Which brings us to T.5?, only the 2nd TAZ setup in this run that comes within the 'conventional' 10SMA and 30EMA TAZ zones(T.2 was the other)...WELL we technically have to wait for confirmation as, whilst she is satisfying three of our 5 rules, we need to see if Monday's action provides a higher price above 57c with higher vol than 1.72mil. For all we know, Monday may produce a gap down or lower day or lower vols. Now, I have observed and mentioned in the past sometimes 4 or 5 TAZ set-ups is often about it for the current trend and the 5th TAZ can be the one that fails to bare fruit and price ultimately breaks its uptrend....but that was for 'conventional' TAZ set-ups and I really wouldn't say we've had 5 'conventional' TAZ set-ups in VMS to date!

Those reading the main TAZ thread will note that I personally have 'pre-empted' support in this area in VMS and have taken up my first 1/3 of a desired position based on both the Williams%R's and price/oscillator support zones. So, we'll just have to wait and see if this has been vindicated or the T.5 'failure! breakdown observation comes through!









Cheers
Dolphin}


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profits
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Hi Dolphin,

You mentioned a few times of the "Rising Three" pattern. Could you explain what makes up this?

Thanks
P


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stampy
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Hi Profits "I hope life imitates art with your name"


Please see the attached link a for a complete rundown on rising and falling three.

http://www.incrediblecharts.com/technical/candlesticks.php#candlestick_rising_3_ methods

Regards
Stampy


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stampy
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SSM is an example




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gdd3
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TAZ WEEKLY SET-UPS...

Fellow TAZer, Ken, asked recently in the BCC thread...

Dolphin,

I've tried the daily TAZ setups, but not thought of weeklies. How do they perform in practice? Do you ever get simultaneous daily and weekly setups, and do they do better than dailies without weeklies?
}

Throughout my time using/developing/fine-tuning the TAZ trading method for 'pennies/midcaps'(well, non XJO200) stocks by using the daily set-up rules I had often noticed that many stocks, after failing to bounce from near the 30EMA, and as a result gave a -ve cross-over of the 10SMA/30EMA, had often made their way back to the 150EMA only to find support and provide a swing low that appears to happen after the same W%R's set-up characteristics, chart patterns supports and volume increased were apparent or in place.

Now, as my 'traditional' Daily TAZ criteria clearly required that you had to have a recent +ve price rise above the 150EMA, a +ve 10SMA/30EMA cross-over in place and the subsequent price pullback within the TAZ zone before considering a possible valid set-up, it was no possible to justify an entry from a(TAZ set-up) swing low originating from near the 150EMA....or was it? Many of these swing lows from this area often resulted as the beginnings of the next possible Daily TAZ set-ups(i.e. once the 10SMA was again above the 30EMA and then price action stated to drift back into the TAZ zone)BUT from higher prices.

So, about 6/8 months ago, I started to 'fiddle' around with the same TAZ 'criteria' but for a weekly timeframe. Now, initially I had no problem with using a Wkly 10SMA/30EMA as a TAZ set-up zone, as the Wkly 30EMA was the same as the Daily 150EMA, but the problem was that I found using/waiting for a Wkly 150EMA, as a main price position criteria before placing a stock on TAZ watch, was next to useless. I mean that was effectivily using a daily 3year+ moving average as an 'entry' trigger...just ridiculous. It became very clear that if I was to be able to take advantage of some of these 'early' TAZ set-ups, remember originating from near the Daily 150EMA, I would have to use 'faster' MA's to identify TAZ set-up Zones on a weekly chart. So, its still a work in process BUT so far I'm close to settling on a 5SMA/21EMA as the "set-up ZONE", 30EMA to show where the Daily 150EMA is, and a 52EMA as the primary trend indicator.. This has resulted in at least identifying some of the early mid-term trend swing changes but with primarily one noticible difference. I started to notice with most Wkly TAZ set-ups, where the stock had been trending up for some time but had then come back to the Daily 150EMA, that the Wkly W%R14 period often didn't get back down to the -80% desired 'traditional' set-up area; in fact, it was most often supported(or bounced from)at the -50%(or indicator trendline) area....just like my "secondary" daily TAZ set-up criteria. So, as long as the Williams%R3 was below the -80% and the Williams%R14 was near/at -50% or on support and we had price confirmation I found(so far) this is adequate. Sure , there are going to be cases where both W%R's are in the classical desired areas(i.e. both at/below -80%) but more often or not this had resulted in the price action once again going below the 52EMA and/or a -ve 5EMA/21EMA cross-over thus negating a TAZ Trade set-up possibility.

Ken, there have been occasions where both the daily and weekly TAZ 'indicators' were "in sync" and I confess this was what I also was hoping for BUT SO FAR THEY ARE RARE. Most recent examples(Xmas time) have been LYC, ALK and DRK(Dec. and **OCT. as shown in one of my examples below).

Having outlined what I have 'found' thus far I have to make it clear that this is a work in progress and I am open to constructive critique and suggestions.

Just a few examples...

(1)...To illustrate the W%R14 @ -50%, W%R3 @ -80%, price action at/near the Wkly 30EMA/Daily 150EMA, at clear trend support and price and volume confirmation coming during the next week are FMS, ARX and of course recently BCC.

Chart for FMS....





(2)...A more common use could be in "speed" stocks, i.e. looking for Wkly TAZ set-ups when a stock has advanced swiftly above the 52wk EMA and has pullback into the 5SMA/21EMA TAZ set-up zone; the W%R's are at -50% and -80% as explained and with all the other required criteria satisfied(vol., trend support and price confirmation). Recent examples include LYC, BRM and ALK.

Chart for ALK...




(3)...Rising Three patterns...exapmples include again LYC and AND.

Chart for LYC...





(4)...Wkly and Daily TAZ's simultaneously; examples include LYC, ALK and DRK.


Daily Chart of LYC showing D.TAZ and W.TAZ in mid Dec(green TAZ T.4)....





I close this discussion with a chart of a perenial favourite on the TAZ threads, AND which shows some of the WKLY TAZ opportunities that have presented themselves since early 2009 and carries many of the examples explained above. Particular note the importance of a trendline support on the W%R14 near -50% over this period! WT.5 was a ripper, had you set early in July at about $3.30 2+ weeks B4 any daily TAZ signal(and only a "secondary" TAZ signal) was in place late in July.

Chart for AND....






Other stocks you may want to look at in recent times include PEK, FMS, ARX, CCC, ARU with GMR and TTY on current watch.

Hope this going to upload??

Dolphin }}


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espresso
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one to watch again



Would you rather be right or happy?

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billt
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'ERX' is a 'Energy Bull 3x' ETF: Tripled your return since July


EMA 3 & 10 crossovers provided a very good entry and exit point.

W%R14 gave earlier indication by a day or two. W%R3 helped too.

MACD supported the call.

Volumes up around entry points.


EMA 3 &10 Trigger: 289%

July/August: $26.4 to $32.1 = 22% gain

Sept/Current $28.1 to $75.0 = 267% gain


W%R14 Trigger: 333%

July/August: $23.9 to $32.8 = 37% gain

Sept/Current: $25.3 to $75.0 = 296% gain









You could have 'shorted' the August/September down leg by longing 'ERY' and made another 14% - but that would have been plain greedy!


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gdd3
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SUGGESTED STOPLOSS ROADMAP

A recent question from a TAZ Reader regarding STOPLOSS PLACEMENTS...


I have a question on how you manage your TAZ trades between your stop loss point and your target exit point. For example, I'm continuing to ride the LYC trade, entering back on 20 Dec when I saw a TAZ buy trigger. Around the same time, I also entered other TAZ trades (EXT - 23 Dec, AQA - 19 Jan, NXS - 25 Jan). Each of the prices rose in the following days to sufficient levels to move my stop to entry price, but then lost support and I was stopped out at my entry price for each. Unlike LYC, there appeared to be no announcements or stock specific news to continue the rise...and wider economic factors seemed to buffet the upward momentum. So... I understand the (initial)TAZ stop loss placement and your target for say 15-25% appreciation. My question is whether you have rules for managing the trade in between your stop loss and target exit point? Examples might be to tighten trailing stops or early exit where there are no supporting ASX announcements/news or time windows where you exit if the stock continues to drift past 3-4 weeks, or cross major trend line. How you manage your TAZ trades between stop loss and target may be through gut feel...but was wondering if there were any proven TAZ rules you apply. Thanks again for your continued informative posts.







ANSWER....

Firstly, I must stress that PLACEMENT OF STOPS are essential to success of any trading methodogy...its simply a question of Money Management!

Secondly, in your question you have also included some important suggestions for answers, two being...Time limitation and no supporting ASX news. I do apply a "Time Restraint" on my TAZ trades but it varies...regardless, very rarely as much as 3-4weeks you have mentioned. Why? Because the(my) TAZ set-up mechanism 'revolves' about the 2 W%R indicators and is a Swing-trade methodology hence too much time with out a reaction to the set-up mechanisms questions its validity. In most cases(in Pennies, remember) a reaction should occur within a 2-4 day time frame OR you will be given signals to suggest 'failure' or maybe another set-up will be coming again soon which very likely could be at a slightly better level anyway. Keep you 'eyes' on the W%R's and non-confirmation of original set-ups. Whether or not a TAZ set-up has occurred because of an expectation of a pending ASX announcement should be 'around the corner' is of no consequence to me and I would suggest most TAZ set-ups are not as a result of a pending ASX announcement but as a result of a 'profit-taking' reaction to 'news already announced', or merely Day-Traders 'moving-on'. Having said that, its always good to know that an announcement is "in the AIR" or if one is announced just after the set-up. However, remember that good old rule re: NEWS ANNOUNCEMENTS...BUY ON RUMOUR SELL ON FACT!

Thirdly, LYC, as you've mentioned, is one of the stocks I have 'TAZ' traded quite a few times since July lows of last year. No fewer than 10 TAZ signals have been given in this time ...resulting in 6 wins, 2 evens and 2 losses(another TAZ follower, would understand this!). My charts below shows part of that period; top one...a TAZ ROAD MAP as it were...bottom one...STOP PLACEMENTS... for some of those trades.

Anyway, back to answering the essence of your question...are there were any proven TAZ rules you apply. Well, firstly, I'm not too sure if anyone could categorically say "There are proven Rules" in any 'mechanical' or otherwise Trading methods(and this would include Stop Placements strategies)! However, and secondly, I 'call-on' about 6 different Stop Rules? to plan my exit(stop) trades...but I'm sure there are more. Regardless, I will attempt to verbally explain the 6 different scenarios I rely/call on and 'pictorially' show, by using LYC trades that I took, on the second chart below. ....

1)...Initial Stop is placed under set-up candle low(this is shown in red on the second chart); the entry level(shown in blue) is just above.

2)...Once the stock is favourably away then I move the stop up to entry...by this I mean after 3 or more higher highs and higher lows, or

3)...If the stock advances more than 3 day's up from entry I usually then apply a trailing stop that is initially placed below the low of the second candle immediately left of the current one(some of the orange examples on the 2nd chart), or

4)...if we have had 3 'white soldier' candles(almost like the present TAZ...T.6 scenario) I raise my trailing stop up to below the low of the white soldier candle immediate to the left of the current candle.

5)...if we get a Key Reversal Day Candle(KRC) after 3 or more days up I usually place my stop below the close of the KRC if it has a longish wick or below the low of the KRC for the current day's action(sometimes this 'stops' you out prematurely as often KRC's are only a result or "Day-Traders" profit taking but many times its not...eg. a KRC after a breakout of a top...false breakout...or after a break of what is thought to be a continuation pattern? Have a look at T.3's trade map and reason for exit!

6)...because with many of the 'penny' stocks we get gaps, particularly largish gaps, I apply a particular 'rule', mostly to try not to 'cough-up' too much of the 'gap paper profit', right! I mean, it becomes easy if a stock gaps through a target zone...I simply raise my stop to the target level. However, if it hasn't reached projections but is still a 'big'(%) gap then I simply place my stop just below the 50% of the gap range especially if today's candle has a close below the gap day's candle or has a low lower than the gap up candle day...(see T.4 Wkly TAZ on Jan. 5th).



LYC'S TAZ ROADMAP...




STOPLOSS ROADMAP FOR LYC...






Cheers

Dolphin

}}}}}}}}}}}



}}}}


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dennis_menace
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I hope all the previous owners of SPL shares are still in them Up 15% the past fortnight.




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dennis_menace
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WLF up 100% since the beginning of the year and showing no sign of running out of steam atm - but then again dyor!!




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gamefisherman
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Hi dennis menace

Congratulations on WLF. May it continue to climb and thank you for bringing it to my attention. As I am working feveriously to learn the Art of TAZ trading, i have included my initial interpretation of the entry signal imo WLF just gave the other day. Please feel free anyone to comment on my chart as well, as I wish to become a TAZ trader and am on a steep learning curve. Any feedback would be most appreciated.
I will now add this stock to my watchlist dennis m looking to enter on next pullback or TAZ signal. CheersWLFTAZentrysignal


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gamefisherman
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TAZ SCREENS

Hi All

I am currently working hard to catch up on all of the knowledge around here on TAZ trading (wish I was here a few years ago when the forums were hot on this topic) however I hope we can get them hot again.

Question: I have attached Dolphins TAZ scans (which is from the post listed below (not sure if he has changed them since?) I will endeavour to find this out and come back to report on that.

They can be found here:
Gdd3 post 423 https://forum.incrediblecharts.com/messages/8/2423644.html
and partial quote from Dolphins post is "). I actually now use 3 scans...10MA cross with 30MA; 10MA cross with 150MA, and 30MA cross with 150MA with volume constraints(500,000 min last 2 or 3 days). "

I was hoping that other people whom screen for potential TAZ setups would mind sharing their scans. As I am new to working through TAZ scans I am unable to contribute my but in time I will do so.

I look forward to discovering what other users screen for with potential TAZ setups and hopefully we can all learn from eachother!

Much appreciated :-)


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gamefisherman
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Further to my recent post, I have provided details on one of the TAZ scans that I run, however as I am just in the process of tweaking them, I would appreciate some feedback.

With this scan I screen stocks where their price is between 2c and less than $1, 1st 10dayMA crossed 2nd 30dayMA last two trading days, and volume filter where 2 day MA volume not less than 500,000 within last 3 trading days.

My questions are:
1. With the 10dayMa and 30dayMA crossover is last 2 trading days too narrow, ie should I increase the days and if so to how many?
2. With the volume filter what are your thoughts on both the days used and volume screened. Would you change these, and if so what would you consider a potentially better mix?

I would be most grateful for your comments and input.

Best Wishes
GF


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gdd3
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"Rudymeizer's W%R14 Trendline Breakouts Signals"

Some of I.C. Forum followers may remember sometime ago that Dumas(alias Rudy) and I initiated a "discussion" on one use of the Williams%R14period indicator that has subsequently been used(sometimes crudely, sometimes with flare)quite a bit by fellow I.C. contributors since....including myself as an "extra" TAZ based tool especially for a Pre-TAZ set-up tool.

Sometimes you will get a stock that will give you apparent Swing Trade like patterns within an uptrend(ugly as it maybe but still higher highs and lows) BUT won't provide your "classic" TAZ Set-up criteria(something is always missing..i.e. not all boxes are ticked), or even worse, give you a TAZ set-up and confirmation only to "disappoint". HZN, as an example, over the past 6 months provided two TAZ set-ups(R3T.1 and T.2 on chart below)with one providing a reasonable return(5.5pts...31c - 36.5c or 17.5%) and the other a small loss(2pts...34c - 32c stop).

However, if we used the simple W%R14 **"Rudymeizer" entry system one would have had 3 clear buys(one still active) with two clear sells netting a total of 17pts(2 x 8.5c)or 29% and 26.5% respectively(this just for B.1 and B.2 as B.3 is still active and not included)....bit of a difference, right! Now it is importance to note that the same entry stop procedure is used as if a TAZ trade, that is, 1c below entry setup day and, equally allowing the trailing stop principal to be activated as the stocks moves up favourably as in a TAZ trade and applying the same exit procedure IF A W%R SELL SIGNAL HASN'T BEEN ACTIVATED B4.

}

** To clarify Rudymeizer's rules...simply this...

1)... All W%R14 "Buy" signals must come from a break of a downtrend line at or just below or above the -80% level on the indicatorthat was started from the indicator peak closest to the price swing high peak of the last W%R SELL signal or the one immediate to the left of the last price swing high peak. In addition, the W%R14 peaks must be at or above the -20% level. It goes without saying that the more lower highs that form the downtrend line the more "comfortable" you can be with its validity HOWEVER you only need two points but if so the second point of the trendline has to be below the -50% level, preferably near the -80% level....Summary:- the two important things are the start point of your downtrend line and the "trigger" day cross-over must be as close as possible to the -80% level.

2)...For a SELL W%R signal its basically the opposite; minimum of two points to form the uptrend line with one higher low but better with more; b;; starting point for trendline at/near last BUY W%R signal at/near previous swing price low; W%R14 start point at/below -80% and; "trigger" day comes when W%R14 breaks below uptrendline that is at/very near -20% level.

One important "footnote" here is that the W%R14 trendline should start at a reasonably major swing high/low, meaning a swing point that has resulted in at least a few weeks counter trend, otherwise you get two many meaningless lines and signals...if you insist on using trendlines from 'intermediate' swing points within a trend at least have a valid supporting trendline that has originated from the major swing turning point that will confirm the shorter-term signal.

If you follow these simple rules you will see that a high percentage of signals will be very near swing lows/highs. Having said that, I find it hard at times to wait patiently for the correct SELL signals. For example, using the HZN chart attached above, and zoom in to highllight the B.1 BUY signal(the day after the swing low at 29.5c) you can see (in yellow)two alternative potential??? sell signals based on breaks of up trendlines that were formed from higher lows as suggested BUT the impoartant thing to note was that these breaks came above the -20% area(particularly the 1st uptrend line) and equally important is the resulting 'depth' of the breaking lines didn't go below the -20% line. This usually means you "get-out" too early in the uptrend and miss a "lot of the cream"(well not so much in this example but still a couple of points). Often in a clear "Impulsive" move(E.W. talk) you will get your W%R14 forming a narrow horizontal band or peaks and troughs at/above the -20%(one a buy signal is successfully running) and believe me this is not the time to be "exiting" the trade like we have in B.1 highlighted below and same in B.2 above also. Note very early on in both trends that the W%R14 reaches above the -20% zone(many would say Overbought zone and look to exit and find its only in an early phase of the swing move up). This is the very reason why its important to locate/wait for that near perfect SELL Signal. One hint here is to draw horizontal suuport trendline along that "bullish" peak/trough band above -20% and 'marry' a breakdown of that with a breakdown of your W%R15 uptrend line at/near -20%.

}}


As I mentioned above I apply the same STOP Procedures as I do with my TAZ Trades, just as a precaution, incase no clear W%R14 SELL signal comes "quick" enough. So I have also shown on the 1st chart my levels of my initial stop on trade entry(green bullet), then the positions and under the candle day that determines the level of the trailing stops(in white) and the exit stop activated(in dark pink).

To be continued....

Cheers
Dolphin

P.S...Apologises to Rudy as for the use of the "pseudonym" suggesting naming rights but we both know it was your good work that established the "trigger" significance of the trend lines having to break at the -80%/-20% levels!


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ragchewer
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Wednesday, June 01, 2011 - 11:48 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Dolphin,
Many thanks for your comprehensive replies i'm going to need sometime to absorb all this info.I havent included the W%R in my filter just observing it's action while reading your text at this stage.

many thanks again
cheers
Rags


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gamefisherman
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Tuesday, July 05, 2011 - 03:23 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



The Ultimate TAZ scan.....

Hi All,

Just wondering if you could setup a TAZ scan for:
1.Weekly setups
2.Daily setups.

What would you want it to look like, what would need to be in it etc......The reason that I ask is that I am going to attempt to write a scan for this system, and any input would be much appreciated. I know that we are limited with the Williams filtering system, but am trying to work around this.

Any feedback would be most appreciated....

Cheers
GF


Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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ehmu
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Wednesday, July 06, 2011 - 05:55 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Marlin Man:

This is really Dolphin turf, but I will offer up what I did some time ago to find TAZ set ups in their early stages.

I just put one of the scans "TAZ bull 13" on the public scans. Some limitations that you will want to tweek are share price, liquidity (daily traded value), and I used the US markets due to a nice selection of charts to see. If you want to see some other good charts, just increase the share price to say $30.

As you will see, price crossing, and ma crossings (bow tie visual effect) provide high target probabilities for trend changes.

The best charts will always be moving from low volatility, and when they show high volume it is also a good sign. I select some of the parameters visually .

I like to have the scan set a little loose, so that I get a good selection of charts to consider. I find when I view 30-50 charts that it also gives me a pretty good sense of the current mood in the markets.

Here are a few samples from todays scan.









_____ n a m a s t e

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gdd3
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Wednesday, July 06, 2011 - 10:45 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



HI Ehmu,

Thanks for providing your take on the use of scans for TAZ-like trades. I say TAZ-like as they are not coming from a traditional Trading Action Zone set-up area/zone(i.e. within the daily 10SMA and 30EMA above the 150EMA). In all your examples the price action has well and truly broken below the 150EMA and have -ve 10/30EMA crossovers at the time of the apparent TAZ like setup points.

However, as you rightfully pointed out, you have "adopted" your scan criteria in order to catch TAZ(like) trades in their early stage. Similarly, with what I have called "Rudimeizer's W%R14" above in post No.1405(May.31st), the use of the W%R14 period is one of my adaptions of some of the TAZ rules/criteria in order to capture an earlier entry in a stock that may or may not give a future traditional TAZ set-up at higher prices. The other "adaption" I use for the TAZ concept is to use the Weekly Charts and it is this method that I think you could justify your stocks illustrated above as TAZ-like. Again, I have a posting in this sub-thread on my use of Wkly TAZ set-ups.

So below I have posted your stocks to highlight how I could have justified an entry, one as a Daily(with W%R14 buy signal) and two using the Weekly Charts to provide viewers how I would have justified a possible TAZ like entry in these and where.


BEBE....Daily and the use of the W%R14 as a buy signal when price is well below the 150EMA and a "profit-take" sell signal when the W%R14 uptrend line has broken at/near -20% . Note, I couldn't justify BEBE as a Wkly TAZ trade as we had had more than 3 Wkly candles below the 52wkEMA.




CNTF....Wkly TAZ setup(W.T.3...two consecutive candles). Note the success of the previous Wkly TAZ set-ups! Remember, it is important to have these buy signals from apparent chart support, e.g. either structural chart supports or Fibo retracement levels. CNFT has both.
.


THC....Classic WKLY TAZ set-up plus also W%R14 the next candle! THC TAZ set-up has come from the common 50% Fibo support zone.



Cheers
Dolphin

P.S. Ehmu...still no sight of your "TAZ Bull 13" scan on the public scans as yet! I look forward to viewing it once it "arrives".


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ehmu
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Thursday, July 07, 2011 - 01:12 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thanks Dolphin:

For helping connect the dots regarding IC scanning.

I was mainly responding to the recent enthusiasm toward TAZ trading of the new member gamefisher. I was trying to present a very course way of getting a somewhat narrow field of charts to consider for myself and anyone else that may be searching.

I have the filter for price crossing the 150 set at 10days, which should catch those equities that are consolidating after a break of the 150, but won't catch the fast movers in the current bear rally.

I also confess that I built this scan last year during a very strong bullish trend. The markets have bounced off of the 200 ma in many cases, so prices are predominantly crossing the 150 in a strong upward direction rather than slowly bouncing from a (dt) negative collision with the 150.

I checked the scans and see that TAZ 13 bull is now shared. And I'm posting an image of the criteria here for discussion purposes if necessary.

I don't consider my measly efforts as refinement to your TAZ string, and appreciate how you have included scanning as an important part of the process.

I see that someone from au has a shared taz screen that incorporates selection of recent short term dt's. Image included below.










_____ n a m a s t e

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ehmu
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Thursday, July 07, 2011 - 01:31 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



BTW Dolphin,

do you have any IC shared scans that produce TAZ candidates ?

thanks
H


_____ n a m a s t e

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gamefisherman
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Hi Ehmu

Thank for for responding to my request in this posting area.I must say that I had a laugh at your "marlin man" comment! :-)

I will have a good crack at your scan and note your comments re tweaking it if needed. I will also go the the public scans area as well for a sniff.

Surely, with all of this technology around, it cant be that hard to simply find the right codings and then place them into the scanning mechanism to produce what we need ie possible TAZ candidates without having to eyeball 100s and 100s and charts.......makes your eyes too sore...lol but then again, I love looking at all the different charts that are posted by members here, and personally are finding that my knowledge of TA is increasing as a direct result of that. So to all of those whom share their wisdom here, I am grateful.

Thanx for sharing your insights too re low volatility and high volumes etc......Will add that to my increasing book of TAZ notes.......

Best Wishes
GF


Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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gamefisherman
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Hi Dolphin

That extra clarification is most helpful. I am now left wondering if weekly setups have proven to be more reliable than daily setups? Or is the whole point to first use the weekly setups and then go to the daily setups to assist with making the entry?

Cheers
Rich


Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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gamefisherman
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Friday, July 08, 2011 - 05:05 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Ooops, I actually posted a question that I already know the answer to above so please all forgot the question re weekly setups......a case of TAZ brain fog :-)
= Use Weekly setups then go to daily for entry signals/confirmation etc........lol I think I need to recharge my brain!

Cheers
GF


Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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ehmu
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gamefisherman wrote on Friday, July 08, 2011 - 05:05 pm:

Ooops,







Don't worry, this happens to all of us; when unlike the road runner (aka dolphin), our feet get ahead of our bodies.










_____ n a m a s t e


___For every seller, there must be a buyer.
________________________________________________________________________

Not a recommendation to buy or sell equities

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gamefisherman
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Saturday, July 09, 2011 - 10:51 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Whilst Ehmu your above post is not quite a TAZ Road Map post or maybe it is......lol, anyway it is hilarious and I couldnt agree any more with your comments, I just hope Dolphin appreciates the cartoons....Superb!!!

ROFL Cheers
GF


Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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gdd3
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Saturday, July 09, 2011 - 08:13 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Just "dropping-in" using a friend's computer as I'm on family duties this weekend but couldn't pass up a "big thankyou" to Ehmu for his "caricature" of Dolphin's likeness to "The Roadrunner". Charlie(the)Coyote and the Roadrunner were both my favourite cartoon characters in my boyhood days so I'm definitely not offended but actually appreciate Ehmu's cartoons here, M.M.(GFM).

My only confession here is that for many years, and even occasionally still now, my "trading" skills/exploits are more associated with "C.C's"(Charlie Coyote's...i.e... in case some guess the wrong character I'm referring to here and may be offended!)...and "blow myself up" all too often!

Post a bit more later.

Dolphin


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gamefisherman
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Wednesday, July 13, 2011 - 07:47 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi All

Whilst our guru is unavailable due to other important matters, I was hoping that someone could answer a brief question for me.

I have attached Whiteowls (ENT) entry for this weeks competition to use as a real life example. Please see the chart below.

My question is: If a stock is in the TAZ zone and whilst the price is in the zone there is a crossover of the 5daySMA and the 10daySMA, is the stock still a potential TAZ contender assuming all the other criteria is met or if this happens does it automatically cancel the TAZ setup?

I would be most grateful for your input.

Cheers
GF




Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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gdd3
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Wednesday, July 13, 2011 - 08:18 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



G.F. ...you're lucky as I have just "dropped-in" to check on what appears to be fast becoming a "defunct" forum(this is is not a wish of mine it just stating an opinion and I certainly hope I'm wrong).

Anyway, back to your question....somewhere in the Road-Map section above I have explained my use(and reason for using) the 5SMA and 10EMA's and that is sometimes(many moons ago...bullish market) we have situations when stocks are almost running in a parabolic nature up or at least in a strong uptrend with only 2/3 day counter trends. It is of no use waiting for a traditional TAZ set-up to occur in these circumstances as the 10SMA/30EMA set-up zone is two "slow". In fact, stocks that are rising fast may not even cross the 10SMA as demand is so high....so I use the 5SMA/10SMA as the set-up zone thereby hoping to catch some of the swift run instead of sitting aside waiting for a traditional set-up to occur and missing out altogether. I should imagine that in the present market climate you wouldn't find too many stocks that are currently doing this.

In 'normal' moving stocks(similar to WhiteOwl's ENT) I ignore a negative 5/10 -ve cross but only if the 10/30MA's are still +ve. I do, however, sometimes use a return to a +ve cross in the 5/10MA's in this situation as a confirmation of what the other MA's should be showing anyway.

Hope this helps.

Dolphin







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gamefisherman
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Wednesday, July 13, 2011 - 08:55 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Dolphin

Thank you, and a great and welcome coincidence indeed. Ok, now understand that rationale, and I will also look back to find out the other previous posts you mentioned. I would be surprised if this forum ever becomes stale (it has already stood the test of time which in itself is a testament to the work that you and others have put in).
Cheers
GF


Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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