Henry’s Charts — His Core Setups

2017-05-10 | Danielle Shay

For the most part, Henry uses the same core setup. He has found a great combination of tools that he likes, and he sticks with it. Those tools are always complemented by his Fibonacci work, and overall market analysis. Continue reading to learn about his favorite tools that assist him in his day to day work.

His core setup includes:

  • The Moving Averages (8ema, 21ema, 34ema, 50sma, and 200sma)
  • The Squeeze
  • The Voodoo lines
  • Time Frames (5 min, 15 min, 39 min, 78 min, 195 min, daily, weekly charts)
  • RAF – Ready, Aim, Fire
  • Triple Squeeze

Platforms: Henry uses both ThinkorSwim (TOS) and TradeStation. He uses Fibonacci heavily in his work, and for that reason he likes to use TOS. You’ll also see him using TradeStation at times.

How He Plans: As a part of his nightly preparation homework, he listens to his colleagues’ views through the Simpler Options nightly videos (if he didn’t make them himself!), Simpler Futures and Fibonacci Queen. He also relies on scans to identify the setups he will trade the next day. Henry is not a fan of trading based on news – he relies purely on technical setups, and as such, this isn’t a part of his nightly routine.

Video Resources: Henry has created a video for you in which he explains his chart setup for swing trades in detail:

Support: For questions regarding Henry’s chart setup or indicators, you can find more information about each one on our Support docs under the category ‘Henry Gambell’ or ‘Indicators.’

TOS Flex Grid:

Henry likes to use this grid for an overall market view. Before he decides to trade a single ticker, he always keeps in mind how the overall market is behaving. To make his decision, he looks at: $TICKs (to determine buying vs. selling pressure), VIX (measure of volatility), ES (S&P futures), NQ (Nasdaq futures), ZB (bonds), 6E (Euro), GC (gold futures), and several main companies that he follows.

Main TOS Chart – Daily

Chart includes:

  • 8/34 exponential moving averages
  • Voodoo Lines
  • The Squeeze
  • Fibonacci Levels
  • RAF

Henry focuses a lot of his setups around the daily chart pattern. As you can see from this daily Facebook (FB) chart below, he has a few tools that he uses to make his plays.

The horizontal red and white lines are our Voodoo lines. Henry uses these for support and resistance levels. The black diagonal line that is accompanied by the green and red horizontal 61.8% and 127.2% targets are Fibonacci levels. He has the squeeze down below to time directional moves, and the Ready, Aim, Fire to assist in entries coupled with squeeze plays. His moving averages on this chart are the 8 and 34 exponential moving averages, that he uses both for triggers and to determine the trend.

Main TradeStation Chart – Daily

Chart includes:

  • 8/34 exponential moving averages
  • Voodoo Lines
  • The Squeeze
  • Fibonacci Levels
  • RAF
  • Parabolic SAR
  • Volume

This chart setup is the same as his TOS chart, with the addition of the Parabolic SAR and the volume, it just varies a bit in appearance. Henry uses the Parabolic SAR as another signal to determine the trend of the price action.

Links to Purchase:  If you’re interested in any of these tools, you can find them at the Simpler Trading store. The exception is the scanner, which has it’s own dedicated site. Here are the direct links if you’d like more information.