Posts Tagged Trading
I'm showing the Weekly silver chart. Usually I look at the Daily charts but it's more clear on the Weekly charts this formation. The price action is actually bearish (so that's the big negative about this trade).. the trend channel is going down but I am expecting a move up to at least 3000. From here, I may take some profit as I'm expecting a move down once it reaches the either the top of the trend channel or before it. Remember, in trading, nothing is certain so we have to contr
March 11, 2013
No Comments Full Story
Unfortunately we suffered another loss trading oil last week - this time a countertrend trading Oil. We've not been having much luck lately :(
The trend was down but you can see that there was some support which had formed around the 9200 mark. I had gone long Crude Oil at this point expecting a move up to 9400 and beyond. The market did move a little bit up from my trade the following day but the following day, it fell hard, our stop was hit and I was nursing a 100 point loss.
Counter
March 3, 2013
No Comments Full Story
I played the Dow countertrend yesterday, the Dow had fallen heavily and I took this to be the start of the downtrend after weeks of bullish movement. I was expected to see a pullback from the bullish movement of the DOW and this was my signal for it. After the huge move down, there was an initial move up and this was what I took to be the pullback before lower prices. Unfortunately, I was wrong this time.. the DOW powered ahead.. it's shot up around 200 points and have broken the previous high!
February 27, 2013
No Comments Full Story
« Older Entries
Newer Entries »
