Henry Gambell

Henry’s Charts – His Core Setups

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 two videos for you in which he explains his chart setup in detail. Click here for the links:

http://www.simpleroptions.com/members/Setting-Up-Swing-Trading-Charts.cfm

http://www.simpleroptions.com/members/Setting-Up-Swing-Trading-Charts-Part-2.cfm

Support: For questions regarding Henry’s chart setup or indicators, you can find more information about each one at www.simplertrading.com/support under the category ‘Henry Gambell’ or ‘Indicators.’

TOS Flex Grid:

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 TOS Chart - Daily

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.

Main TradeStation Chart - Daily

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

Danielle Shay

Danielle Shay

Danielle got into options trading after being introduced to Simpler Options by her father several years ago when she needed a career change. She was determined to become a trader so she could work from home with her infant son, make money on her own terms and learn a skill that will last a lifetime. Trading was a rough road in the beginning, but with a lot of studying and hard work, she’s now exactly where she wants to be. She’s a former teacher and translator, having taught elementary school in Costa Rica, and ESL to refugee women in the US, and various youth programs. Teaching and helping others is her passion, and now she’s turned her attention to helping aspiring traders learn this amazing skill.

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