Posts Tagged trading blog
We were sitting pretty with the breakout of the crude oil trade if you took the trade.. it would have been over 200 points in profit if you had traded it. I had mentioned that if price has moved above the support/resistance line, you should be wary of it's ability to go lower. Today, the market rallied and from the bottom to where it is now, it jumped 300 points. Obviously for anyone who is still holding this trade, it's a tough one as no one never likes to see a huge profit become a loss...
September 27, 2012
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The DOW looks like it's reached a top, a triple top in fact... in the 4 hour chart below, you can see clear resistance where the market has bounced off this showing a pin bar. Looks like there are strong sellers here in the market and a potential place to go short. I have put on a sell at 13560, looking to take this 50 points down to 13510 (which is just above the support level you can see). 50 point stop also.
This is a risk of 1% on my account.
September 24, 2012
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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,
August 10, 2012
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