Well, the DOW turning point I was expecting to see didn't happen and the market momentary moved lower before it powered back up taking me out for 1% loss on the account. That's the nature of trading, you win and you lose.. you just need to ensure that you win more than you lose! Hope next week brings some good opportunities!
I'm doing my usual analysis of the markets taking signals and trades of the Daily timeframes. The one that looks interesting today is the DOW, see pic below: Now you have to bear caution as the market is clearly in an uptrend.. however, the price action over the past week, looking at the daily charts, shows us that there seems be a band of resistance where the price is unable to get beyond. Of course, the markets can do anything but this does look like a worthwhile trade taking a 1:1 risk
Well I was able to enter the Crude Oil trade last night... seems that the market closes for a couple of hours and reopens at 11.00pm UK time. I entered as soon as it was open and got a price of 9342. You can see from the chart that resistance there showing selling.. I showed the lowest price of today which would have netted 172 points but it's impossible to know when the trend is going to end and you need to give the trade enough room move. However, by using the 15 minute charts,
