Posts Tagged dow

Second Trade of the Day – Break of Support and Reverse on the DOW

Second Trade of the Day - Break of Support and Reverse on the DOW

Today I got into a couple of nice setups, very clean trading day. I like it when this happens, makes it very easy to trade. This was my second trade today, this time on the DOW. If you look at the longer timeframe charts you can see that the DOW is in an uptrend.. this means that I'm looking for long trades.. areas where I can buy cheap! Anyway, I was watching the DOW as below and drew a support line as the market was creeping upwards. Higher highs and higher lows though you can see that

March 19, 2012 No Comments Full Story

Two small scalps for the day on the Financial Markets

Two small scalps for the day on the Financial Markets

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 No Comments Full Story

The Frustration of not sticking to your Gameplan in Trading

The Frustration of not sticking to your Gameplan in Trading

Today was one of those days where I had a fabulous trade but didn't stick to the plan. I had looked at the market and had put in an order to sell with a stop and a limit order and then that should have been it, I should have left it. Here's what happened..   This was the DOW and I saw weakness in the market and had set an order to sell at 12120 which was a break below short term support. I had a target at 11940 which would have been a 180 target. However, I couldn't help myself

October 31, 2011 No Comments Full Story

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