Archive for the Trading Category
Today I saw a beauty of a set up on the DOW .. the price action had made a double top and not only that, the daily pivot proved to be a good resistance line.. it screamed a short and so placed my trade looking to take the trade down to 11800.
However, with markets, anything can happen and this is what actually happened... yes, the market actually went up to hit my stop and I ended up nursing a 30 pip hit. That's the thing about markets, you just never know what can happen and a newbie mis
December 15, 2011
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Today, I took a trade using my usual support/resistance techniques. I had seen that WTI Crude had some trouble around the 100 mark and also had penetrated the Daily Pivot and looked like it was to fall. This was a pure price action trade and I went short at 99.82. My initial target was 97.55 which is around 230 points.
However, I've also been looking at another trading system lately which was sent to me by a friend of mine who I know has been doing very well. When I looked at the WTI Crude Oi
December 14, 2011
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The markets have been rather choppy where pullbacks have been quite large. I've been focusing on the 15 minute charts to grab a few pips here and there. Here is what I did today.
My first trade was crude oil. I could see that a 'W' pattern had formed in the 15 minutes. I had talked about the W pattern before in previous posts on the blog.. you can read one here:
http://www.makemesomemoney.co.uk/2011/09/01/the-w-pattern-in-oil-price/
It's basically the market finding support. I went
December 12, 2011
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