Posts Tagged trading blog
As you can see from teh chart, there has bene quite a long consolidation channel.. it's almost been 4 days since the market has been bouncing around 15200 and 15080.
I had two lines, 15209 and 15083 and was looking to take a position if the market went beyond this range.
The market did indeed break above my upper line and I went short with a stop at the bottom of the line, 15083 and a 100 pip limit. However, the immediate short term top was 15220 or so before the market fell.. it's current
July 6, 2010
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![Trading and the Non Farm Payroll Economic News]()
Today at 1.30pm GMT time the Non Farm Payroll economic news hits the markets and usually you would expect some volatility in these markets. Big ticket news items like this can completely mess up your trading system so it's best to avoid it. I didn't trade today but if I had done.. I would have lost.
Although there was movement it was choppy and was just moving up and down with no clear direction....
(You can see some movement when the new release is announced)
There are some people
July 2, 2010
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![False break on the DOW]()
Well, back to trading the DOW, I was looking scalp for a few points and initially had my mind fixed on taking 30 points...
I was looking to see if the DOW would break below the S1 pivot point which was also a support line the DOW had responded to earlier. I place my entry at 9694 just to be sure it was lower than the previous low point set. The market gave me my trade and it went nicely the right direction.. I had set my limit to be 9664.
The market however didn't want to give me my 30 poi
July 1, 2010
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