Archive for December, 2007
I was out for a company function today and didn't get a chance to trade. I looked back at the charts and there would have been a good entry at 149775 or so as it broke above the previous intraday high. The stochastics also crossed which would have confirmed the entry.
I probably would have taken the price action to below 150500 or so which would have been some nice profit.
Well, I say that but I wasn't around today!!!
Anyway, here's the chart
December 7, 2007
No Comments Full Story
I came back home to find that the market had already moved quite a bit into positive territory when I got home. Ideally, one would look to buy at any dip.
Anyway, in the 5 min charts, there was an opportunity to short the market here, the price action looked like it had made a short term high and stochastics were looking to turn. I shorted as it moved below 148500 at 148475. As I was trading against the main trend of the day, I was extra cautious and want to get out at the first level which I
December 5, 2007
No Comments Full Story
I got home and the markets were choppy. The stochastics and MACD indicators in the 5 min and 15 min charts didnt correspond.
The only entry I could have made was a short around 147000 when the market failed to go higher from here. This was a resistance level set previously today and was what is called a peek top trade. This corresponded also with a cross in the stochastics in the 5 min. However, due to the nature of the markets today, I didn't take it.
It's always best to conserve capital.
December 4, 2007
1 Comment Full Story
« Older Entries
Newer Entries »
