Friday, June 25, 2010
1-price stretched i bought on the retrace then pushed down against me but i got the yellow OS alert so i held it +2
2-pushed up a bit higher and I wanted to short into this little down move +5
3-and bought off the exit and a test of the recent lows +3
4-same trade bought off the low went a couple against me then +3
5-again shorted into the downmove +5
Thursday, June 24, 2010
Here is the 5min charts, arrows mark the entries and what i was looking at.
8-price was dropping, getting OS yellow had the weekly pivot at 35 +2.5
9-price continued moving down my next rest. area is 25, price stretched i was waiting exited +5
10-price pushed up to the Weekly Pivot again and I shorted into this down move +5
11-same trade, went a little against me be I felt based on the 5min chart we were in a bit of a down move.
12-got yellow of the rest again bought +3
13-shorted into the down move off the exit of trade 12 +4
14-bought again at the bottom here +5
15-shorted again into the down move off the exit, went a couple against me exited again at the rest. +4
16-bought off the exit at the rest again and exited at the same place as before +4
17-and shorted into the down move +4
18-yellow buy +3
19-same exact trade
Wednesday, June 23, 2010
17- on the previous move up price had stalled at the 12-14 area so when i got green i was looking for 12-14 as an entry +5.
18- price heading down again waiting for the indicators to cycle, started getting green almost took the same buy again but got distracted, then it rolled yellow right at the support at 09 and spiked up off the bounce. +5 QUICK!!! A really good session...
I took about 8 more in and out trades prior to these after the news announcement. Here are some of the ones i remembered.
10-yellow took the short +3
11-same trade off the support area at 09 went against me -7
12-yellow short again off the stretch +2
13-off the yellow and support went a little against me +3
14-then i took the buy trade looking for the continuation back up to test the recent highs +11
15-price stretched the BB audio alert on the 15tick chart was going ringing like a phone so i answered with a short caught it right off the top. +10.
16-Then i thought i better wait for the green or yellow to get me a very HP buy. Got green off the stretch down, went against me for a few looking for the support at 29 to exit +6
7-took the buy off the yellow at 22 went against me looking for the 27 area to exit +5. I should have shorted right there.
8-priced pushed down to the recent lows and i took the buy, i hung onto to this looking for the 27 again, it went beyond my normal trading time but normally london close likes to reverse some +13
9-then got yellow waited and entered at 32 where i had earlier +4
Tuesday, June 22, 2010
Monday, June 21, 2010
In this kind of ranging market you can trade the yellow indicator or any oversold/overbought indicator to pick reversals. Such as a Bollinger Band, price jumps outside the band soon price wants to find its way back inside the band. Here i have posted a 15tic chart with a Bollinger Band i keep running with an audio alert. You see when you get a candle that has its body more than 1/2 to 2/3 outside of the band, the price wants to reverse for some pips. This technique is not new but is highly effective in a ranging or choppy market.
Set some Stop Loss rules for yourself and make some pips...
1-pre Asia open, slowww but got yellow shorted at 26 exited 23.5 for +3.5
2-asia price was pushing down, was looking for 03 but it hit 08 and then turned, spread widen on the thin market, bought at 11 then spiked and I got filled and exited at the top +6.
3-and one more short off the yellow +7
I cannot help but take these trades, they seem so obvious, the bounces off the support at 30 and 45, plus i watch the EJ for hints as to where the EU will bounce, in these trades the daily and weekly pivots created reassurance that bounces in this area for the EU would happen...