Posts Tagged dow
I had spotted that the Dow Jones had made a double top and I shorted it as it retraced and headed downwards at 12720. At this time I was thinking that this could be a nice longer term trade as I anticipated seeing the Dow decline over the coming weeks and possibly months.
I knew that there was support at the 12650 level and if it were a daytrade, this would have been a good place to take profits and take 70 points.. not a bad days work. However, when it bounced, and started to eat into my pro
July 22, 2011
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We've seen the DOW propped by up support around 12400 for all of last week and when it broke today I had a short at 12360 which was trigger. It was looking well and at one point I was already 60 points up. Now the markets always seems to find support at big numbers so at 12300 it bounced.
I expected this but with a nice clean break to the downside, I didn't think it would bounce that high. I had an initial 80 point stop which I moved down to entry when the market hit 12300 but then hit exactl
July 18, 2011
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As per my previous post, I closed my short seeing the stochastics being at a low... However, what surprised me was when I next looked at the chart... it short up, my exit being the low point and shooting up 100 points.
I was lucky to get out where I did.... can you say it was skill? I really would like to think it is but boy, the market does funny things most of the time so I am more inclined to say that it's luck!
Anyway, what I did miss out on was the move upwards... the pivot level is t
August 10, 2010
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