Yep, no trading today.. I went out for dinner this evening and took a break from it. I've come back to see what happened today. From the charts, it was a slow and gradual drift downwards. The next area of support is 130000 and if it breaks this, we could see a very quick fall to 125000 or so.
I was thinking of how I could filter my trade choices so that I can eliminate the crappy ones and only get in when I should be and not for the sake of it. Anyway, as you know, I like to enter reading stochastics and anticipating when they turn. I've not used the 1 min stochastics enough though and the price action does respond at the tops and bottoms. The plan was to see what the 5 min stochastics was doing and then time an entry in the 1 minute. For example, my first trade, you can see th
The market was looking extremely choppy when I got home.. the only thing I notice was that the market was in a trending channel.. you could have sold at the top of the channel and sold at the bottom of it for profits. When the channel broke, if you had spotted it, you would have gone long and you would be laughing.. there was a heap of profits to be made. By the time this had happened, I had traded a few times and lost so had reach my limit... no more trading!! I did trade on my spreadbet
