miketranz
961 posts
msg #153540
- Ignore miketranz |
8/13/2020 11:15:40 AM
Any ideas would be highly appreciated.Day 1) Stock makes a new 52 week high.Day 2)Stock reverses lower. Day 3)Stock reverses higher. MCRB is the model stock.The idea is to go long the close of day 3.It's basically a trend knock out filter.Thanks,Miketranz...
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Cheese
1,374 posts
msg #153542
- Ignore Cheese |
8/13/2020 11:25:41 AM
maybe something like this
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xarlor
581 posts
msg #153543
- Ignore xarlor |
8/13/2020 11:32:42 AM
Cheese, you went back 1 too many days. You want Day 3 to be today so you can enter at close. Also, I made Day 3 close higher than Day 1 though it wasn't clear if that's what miketranz intended with "Stock reverses higher"
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Cheese
1,374 posts
msg #153544
- Ignore Cheese |
8/13/2020 11:42:24 AM
xarlor,
I went back 1 more day so that because today is not finished yet
so results may be distorted
I am not sure if mike wants close new 52 week high or high new 52 week high
and day 3 is higher than day 1 or day 2
But my filter did show MCRB
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Cheese
1,374 posts
msg #153545
- Ignore Cheese |
8/13/2020 12:07:37 PM
@miketranz & @xarlor,
For non-options long only still-learning traders/investors,
how should we trade mike's idea (not just MCRB)?
Thanks.
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miketranz
961 posts
msg #153546
- Ignore miketranz |
8/13/2020 12:56:18 PM
I'll try to clarify.Day 3 close must be at or above day 2 high.Also,a 2 month high instead of a 52 week high may also produce more set ups.I have a feeling that these set ups are rather rare.However,when they occur,they can be very profitable.Thanks for your help.Mike...
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xarlor
581 posts
msg #153549
- Ignore xarlor |
8/13/2020 1:50:52 PM
miketranz, in that case this is what you're looking for. Plenty of setups with 52-week high. Too many for my liking.
My original filter did not require a new 52-week high, it only required that the close was higher than the close of the day it reached a new 52-week high. A small but important differentiation. The original filter returned less results, but I believe more targeted toward a trend continuation.
Cheese, as for how to trade this, I don't know what miketranz has in mind. If you want to swing trade, a trailing stop seems the most reasonable. Alternatively, sell when daily close crossed below wma(10).
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Cheese
1,374 posts
msg #153552
- Ignore Cheese |
8/13/2020 2:34:22 PM
Thank you, xarlor
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miketranz
961 posts
msg #153554
- Ignore miketranz |
8/13/2020 3:28:43 PM
Swing trade 1-3 day hold.Take what the market gives.Filter looks good to me.Thank you both.Miketranz...
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Cheese
1,374 posts
msg #153556
- Ignore Cheese |
8/13/2020 3:45:31 PM
ok, thanks, mike !
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