Thursday, July 1, 2010
6-got yellow and shorted, i thought this would break down further that is why i did not close it. started going back up and i got out +3
7-same exact setup, i had it in my head this was going to test the 50 area -12
8-soon as i exited i got yellow and shorted and this went beyond my trading time but i thought london would close and trades would close their positions, take profits etc, so i held it until i got yellow +18
No one likes taking these big loses and it seems crazy to hold it that much against you but I was +++ for the day and the EU had moved up 250 pips since mid asia so it felt the 2450 area was right near the top of this big move up.
Not the smartest trading today, too much thinking and not enough reacting and taking profits. But a very solid asian and NY session for me.
Took a bunch of trades in Asia and then in early NY after the news. But here are some in the later part of the session.
1-shorted when the price stretched i had been getting yellow, I held it expecting a push down a little futher, but it went higher -11
2- shorted again on this push up, went against me but i held exite +2 and of course it came down much more RRRRRRR.
3-stalled bought at 53 +4
4-price stretche down fast got red bought real fast and exited +5
5-bought again and should have held this trade +3
Wednesday, June 30, 2010
1-Had support at 67, price tested it got in a tad late +4
2-same trade broke against me, it came back up and i just got out -1.5
3-had support again at 57 +3
4-took the buy at 50 +3
5-wanted to short into this down move at 57 again broke against me came back and exited -3
6-shorted off the 67 area again trying to catch the down move and a minute later +17
7-and i bought off the exit and closed +5
8-shorted again off the 57 and again the damn thing went against me -5
Tuesday, June 29, 2010
You can easily see on this 15min chart where price has found the S&R areas to either trade too or trade off of as in bounce trades. There is no magic here. Just read the charts and follow the money flow. We all know that price action is the best indicator because it does not lag but these levels become self fulfilling numbers because of the pysche of the traders. Do you really believe the very big players in this market are trading completely naked with no indicators or S&R areas etc. It is reckless to think and trade otherwise. Just look at the charts and how price loves to find its way to and from these key areas of S&R. But do not take my word for it, watch this everyday for a week and you will see for yourself.
8-shorted again +5
9-then got red shorted off the strong push up and added at yellow price 68, i saw a couple pips profit but the price just did NOT break down and slowly reversed, I kept hold because i was getting more of a reversal yellow telling me it was coming back but it did, sometimes this happens and it sucks. -14
10-i had the 50sma at 85, support at 84 got in 85 went a few against me but the BB alert was going off so i held and then exited with +2.5