/biz/ - Business & Finance

>>29271783
I try to use a trend lines like the guy on this video
https://www.youtube.com/watch?v=YuPhWMIGcU4
I say try because as I said I only started trading last month, so I still need to sharpen my skills.
I use bollinger bands to get an idea of the volatility, the price on pic related is above it's 20 SMA, and about to touch the upper bollinger band, which together with the lower one indicates a a correction is due.
I use a 50 EMA to get an idea of the trend. I swing trade, and only hold stocks for a couple of days, so a 50 EMA seems like a reasonable choice of MA. The price has been on an uptrend, and we saw some nice price action near the 50 EMA recently, so it's almost certain that the uptrend will continue.
I use the RSI to look for divergences and to get an idea of the price action. The price on pic rel recently broke above previous resistance, it had done so before, but at that time the RSI indicated that the stock was oversold, so it would obviously dump below it again. However this time the RSI had been above 50 for several days, it dumped below 50, but it quickly pumped above 50 again, so it was showing good momentum, it broke above resistance at about 57, so again with very good momentum. I think that previous resistance will definitely become a new support.
I use the OBV to get a clearer picture of volume. It seems like it's solid rn.
I think this stock will drop below it's trend line for a few days, but it will quickly go back up and end up crabbing around it's new resistance for a couple of days more.
I've been using this strategy to anal stocks and I've been getting pretty decent results so far. I think I've been lucky, after all everyone is a genius on a bull market, but I'll keep working like this until I find a better strategy.