Using Weekly candles

I trade off Daily candles, the idea of using weekly candles when I started to subscribe to marketclub, because they use weekly triangle for weekly trading singles.

first off a disclaimer: I may be endorsing marketclub.com here, but I don't get any money from them as of June 2009.

To look for trade setup I like using weekly candles on a 9 mos or 1 yr chart, because there are a lot less swings on the weekly.

watch list:

1) stocks trade above 500,000 per day

2) prefer stocks > $20 per share, including ADR's

entry requirements:
1) marketclub score +65 or above
2) marketclub green daily triangle on the day

stop:
1) initial stop use the weekly chart for stops
2) subsequent stops use the daily chart, when a confirmed bounced occurred (close above the high of the low day).

target/exit:
no target
exit when
1) stop triggered
2) very happy with the profit and able to tell my wife knowing she will say "good job honey"
3) score suddenly goes below -65, that should trigger the stop

example one:

AAPL

marketclub chart, weekly red but +75 looks pretty good to me with a green daily on Friday

prophet chart

1) retrace 50% to last swing,

2) uptrend still intact

JPM

with +75 in marketclub, it is good on the number

but looking at it on the weekly chart, there is no confirmed bounce, this week the price did not close above the low week.

GS

with +65, and a green daily on Wednesday at $144

prophet chart, confirmed bounce, on this pull back to 38%

shorts: none
longs: JCP, UCO, WLP, BIDU, BNS, AKS, AAPL, GS, NZD/USD

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