Shane his trading journey in 2005, became a Netpicks customer in 2008 needing structure in his trading approach. His focus is on the technical side of trading filtering in a macro overview and credits a handful of traders that have heavily influenced his relaxed approach to trading. Shane started day trading Forex but has since transitioned to a swing/position focus in most markets including commodities and futures. This has allowed less time in front of the computer without an adverse affect on returns.
The Force Index indicator is part of the family of oscillators that combines price and volume and helps to show turning points in the market. This technical indicator was designed by Alexander Elder (sometimes called the Elder Force Index), to identify the force of the move and brings together three... Read more… read more
The Williams %R (percent R) momentum oscillator indicator is an oversold and overbought technical analysis tool. It is similar in use to the Fast Stochastic Oscillator and traders will often use it for a buy signal or a sell signal. The Williams %R indicators formula calculation includes: Highest price high... Read more… read more
Last updated on September 4th, 2020 Bollinger Bands are a popular technical indicator that was introduced to the trading world by John Bollinger in 1983. The visual nature of the Bollinger Bands, as with all price channels like the Keltner channel, makes it easy for a trader to see if... Read more… read more
Last updated on September 1st, 2020 Traders who follow the trend may want to look at the Vortex Indicator (VI) to not only determine trend direction, but also point to trend reversals and buy/sell signals. Invented by a pair of Swiss market traders, the Vortex Indicator is simple to understand... Read more… read more
Last updated on September 1st, 2020 What trend indicator should you use to show the trend direction if you want to trade with the flow of price? The first question you should ask is “what time frame are you talking about?” With that question, you are realizing that the direction... Read more… read more
Markets move from a trending environment to a consolidated environment repeatedly which makes taking advantage of simple price patterns a smart play. This is why breakouts from trading ranges and resolutions of pullbacks work in trading. I talked about trading pullbacks in other post where I covered: What sets up... Read more… read more
The London Breakout Strategy takes advantage of the trading range that sets up generally during the Asia session in Forex. Also known as the London Daybreak Strategy, it’s a day trading strategy that looks to be active during the first three hours of the London market session. To trade the... Read more… read more
Tick charts are different than time based charts in that your tick chart, will only plot when N amount of transactions have taken place. For example, a hour candlestick will plot a new candlestick every 60 minutes regardless of the amount of transaction that have occurred. A tick chart, using... Read more… read more
What As A Shooting Star Candlestick Pattern? The shooting star candlestick is a bearish reversal one candle pattern that is relevant during an up direction in price. You can find this pattern on every time frame (easier to see on a candlestick chart and not a bar chart) and the... Read more… read more
Last updated on July 21st, 2020 Marc Chaikin believed that price will follow volume and he designed the Chaikin Money Flow (CMF) based on that premise. It is a volume weighted average of accumulation and distribution of price over a fixed period of time, usually 21 periods. The Chaikin Money... Read more… read more
Last updated on June 23rd, 2020 Using the Chandelier Exit as a trailing stop in trading includes using volatility that is based on the Average True Range Indicator. The name “Chandelier” is no mistake as the indicator calculation “hangs” from the highs (or lows) of current price. Since the Chandelier... Read more… read more
Last updated on August 31st, 2020 Trading with the trend is a simple concept where you only take trades in the direction of the price trend direction on your time frame. If the trend goes up, you would only consider long trades. A market direction that is trending down, you’d... Read more… read more
Last updated on June 25th, 2020 The Klinger Volume Oscillator [KVO] is a trading indicator that uses both price and volume to highlight potential longer term trend turning points in the markets. You should know that many people are referring to this oscillator as a leading indicator. It is not.... Read more… read more
Last updated on May 29th, 2020 Moving averages come in different types and they lag price. The simple moving average weighs each price point equally so it lags the most. Different twists such as the EMA and WMA evolved which emphasized price differently. The Hull Moving Average indicator was developed... Read more… read more
Last updated on August 31st, 2020 Some of the best chart patterns to trade, such as bull flags, are simple and that includes the “anti” pattern by Linda Raschke. The anti pattern takes into account both a pullback and a momentum move that setups up the pullback. As described in... Read more… read more
Last updated on June 18th, 2020 We have all heard of the old adage….”sell at resistance and buy at support” which is another way of saying to trade market structure. Obviously it is contextual because if price is charging towards a resistance level are you really going to just going... Read more… read more
