I've not traded the S&P for ages now... however, I thought I would have a look and I got my entry...
In the past, I would have been tempted to short as the market was looking to top.. however, the trend is your trend as the old trading adage goes and the market was merely consolidating.
I entered near the top of the previous move upwards (not a particularly good entry) at 843 and I had my stop at 839. The price action came incredibly close to my stop (within 1 point) before it headed u
April 21, 2009
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I haven't been trading enough this week so I was eager to get stuck in today.
My first trade was a short at 12922... the market had already come off a 50% Fib level and I was thinking that it had further to go. I had missed the move as it fell (as I had only got in at 6.30pm GMT).. I quickly opened the short but didn't check to see that the stochastics had almost reached the oversold level. This was frustrating as I sold right at the bottom. The market went up and hit my stop for -18!!
A
May 16, 2008
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