Archive for June, 2008
Following on from the previous post, there was a breakdown of the downward pattern and I went long at 1357. The stochastics were looking good in both the 1 and 5 mins so I went for it.
However, I took profit at 1359 as the stochastics were looking to cross as you can see in the chart.. the market may well go higher as the stochastics have more to go in the 5 mins but I don't want to risk it!
I got +2 points which isn't a bad result!
June 10, 2008
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As I mentioned, I am watching price action on the S&P and I missed a great trade. If you look at the black upwards trendline I have drawn on the chart, you will see that the market used this as support as it made it's way up a few times. It then broke this support line and chopped for a bit even bouncing off this as overhead resistance... this would have been a good short or, to await for confirmation, a break below 1362. The market then just fell and there would have been some great profits
June 10, 2008
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The USDCHF trade I put on a few days back woke up and shot up this morning. I left my 50 pip trailing loss and it gradually ticked up... if you look at the graph, you'll see that I got out early once again (most frustrating!) but this time I stuck with my plan and didn't touch it. The market touched 10400 but when you're spreadbetting the spread can work against you. My stop first got to 10251 and then 10352 when the market was at 10400 or so and then came crashing back to hit my stop before mo
June 10, 2008
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