StockFetcher Forums · General Discussion · Fibonacci RSI Short Swing Trading Strategy<< 1 2 >>Post Follow-up
davesaint86
559 posts
msg #146203
Ignore davesaint86
modified
1/21/2019 4:14:22 PM

Thoughts on this strategy that I learned from taking a $10 Udemy Fibonacci course?


Fibonacci RSI Swing Trading Strategy

Use a 1 hour chart setting or less
In your Fibonacci settings add the level .118.
Click the checkbox for this level to add it to your Fibonacci study.
Add the RSI(31) indicator to your chart – add the 70 and 30 lines to your RSI(31) indicator.
Scan for potential candidates that are overbought to short and oversold to go long.
Identify the swing high (for shorting) and the swing lows (to go long).
So far example – QQQ has a swing low on December 24th.
Draw your Fibonacci Retracement from the swing high from December 3rd to the swing low from December 24th.
Purchase QQQ at the .118 level.
Set your stop below the 0 line of the Fib.
Sell ½ of your position at the .236 level.
Sell the remaining portion at the .382 level.
If the second portion does not make it up to .382 and retraces down sell at the .236 level.


davesaint86
559 posts
msg #146214
Ignore davesaint86
1/22/2019 3:17:41 PM

Bought a small position of SQQQ at the 11.8 Fib Level which equates to $14.10. First Target is $15.07, which is at the (23.6 level). Second Target is $16.27, which is at the (38.20) level.

shillllihs
5,402 posts
msg #146253
Ignore shillllihs
1/25/2019 2:56:46 PM

You still think SQQQ will have a run near term?
I looked at the Dma and 2 days just got wiped out.
You can make a case for both long and short at the moment.

davesaint86
559 posts
msg #146254
Ignore davesaint86
modified
1/25/2019 3:32:40 PM

As long as it stays above $13.13.

compound_gains
188 posts
msg #146258
Ignore compound_gains
1/25/2019 8:43:25 PM

Interesting potential trade system...variation on other systems. But in your SQQQ trade it looks to me like you have something like a 1:1 risk/reward (0 line versus 23.6 line. Not very appealing IMO. That being said, this system could have traded NFLX and BIDU options yesterday and cleaned up both yesterday and today. Don't know, but maybe ETFs, or at least inverse ETFs, don't work so well. Hard to backtest without hourly data. Would be interested in the possible use on quality stock options. What was the name of the Udemy course?

Mactheriverrat
2,483 posts
msg #146260
Ignore Mactheriverrat
1/25/2019 10:25:44 PM

Short SQQQ is a far greater reward that being long. Ema4 is below ema9. All longer term averages are going down and rolling over.



Just saying!

shillllihs
5,402 posts
msg #146268
Ignore shillllihs
1/26/2019 2:50:46 PM

Looks good Mac. I’ve never looked into guppy trading so just curious can you construct an entry exit strategy for spy tqqq etc. or does it not work with guppy?
So what is your success rate with this?

Mactheriverrat
2,483 posts
msg #146269
Ignore Mactheriverrat
1/26/2019 4:40:20 PM

/* Signal is a **EMA4 cross EMA9** that shows something is happening.

When the **EMA4 cross’s the EMA21** which you sort by ema421 by most recent. Draw your downtrend resistane lines. Start watching the longer term **EMA21,25,30,35,40** turn up.and or start rolling over.

When the** EMA9 cross’s the EMA25**. Draw your downtrend resistane lines if not drawn yet. Start watching the longer term **EMA21,25,30,35,40** turn up and or start rolling over. Watch price to see if breaks above downtrend line. If price breaks above downtrend line, chance’s are it will be a breakout.

Next the **EMA4 cross above EMA40 **while watching the longer term avarages keep turning up. Watch price to see if breaks or is above downtrend line. If price has broken above downtrend line, chance’s are it will be a breakout.

The **EMA13 cross above EMA30 **is the longer term confirmed trend change.
The last change in trends is the **EMA9 cross above above EMA40 **takes place and more than not the down trend has changed to a up trend.

Also watch out for higer volume as other trader,s buy in too. Bullish! Don’t Over analyze as it will become Analysis paralysis . Keep it plain and simple. Stocks will not go up every day. Its the trends you want to keep your eye on and not the daily Price fluctuations.
*/

Just the opposite for being short.

Mactheriverrat
2,483 posts
msg #146270
Ignore Mactheriverrat
modified
1/26/2019 4:42:36 PM

SQQQ is very volatile. One can make good gains but if they are not glued to their screen they can lose some $ if they don't have any stops in place.

This is just one way of trading.

shillllihs
5,402 posts
msg #146272
Ignore shillllihs
1/26/2019 5:16:36 PM

Good stuff and good advice. Thanx Mac.

StockFetcher Forums · General Discussion · Fibonacci RSI Short Swing Trading Strategy<< 1 2 >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2018 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.