Here is another classic 50sma trade that happened while i was giving a lesson to my cousin sitting next to me.
Price had fallen down to 31 and moved about 25 pips away from the 50sma. Then the price started moving right back towards it, we know from earlier that the price had found support at the 56 area, which is where the 50sma was intersecting plus i started getting YELLOW for ob, so SHORT!!!
Blog Patrol Counter
Friday, January 14, 2011
#9-13
9-bought off the area to the right that i felt held support instead it dropped more i got YELLOW so i held and exited +1
10-and shorted off the spine into the down move, once again price started moving against me i had 63 as the top of my stop it broke it -10
11-got yellow took the short +7
12-and bought into what i now perceived as a small up move, this went against me but i held a bit. finally turned and came my way +3
13-got yellow bought at 50, should have waited to see if it tested the low at 47, oh well +4. This is at the end of my trading slot 11:30am 1/2hr before london closes...
10-and shorted off the spine into the down move, once again price started moving against me i had 63 as the top of my stop it broke it -10
11-got yellow took the short +7
12-and bought into what i now perceived as a small up move, this went against me but i held a bit. finally turned and came my way +3
13-got yellow bought at 50, should have waited to see if it tested the low at 47, oh well +4. This is at the end of my trading slot 11:30am 1/2hr before london closes...
NY #1-8
Trend was up
1-took the buy off the green, did not take the 5 pips thinking it was going to test the highs again at 3400 But NOOOO, got yellow 10 away so i added with the trend. finally it came back and exited on the yellow +3.
2-yellow stretched a bit higher and I shorted off the consolidation +5
3-price consolidated around 75-80, it felt i wanted to get in a buy around as low as possible in this range so i bought at 76 +5
4-price came back down the 69-71 area where is was at previously so i took a buy there +5
5-priced pushed lower and started getting yellow right at the 50SMA on the 5min chart, BUY +5
6-shorted off the exit thinking it was going to push hard through the 50sma +10
7-took the buy off the exit got out of where the previous low was which now become the short term resistance at the spine +5
8-shorted again +3
1-took the buy off the green, did not take the 5 pips thinking it was going to test the highs again at 3400 But NOOOO, got yellow 10 away so i added with the trend. finally it came back and exited on the yellow +3.
2-yellow stretched a bit higher and I shorted off the consolidation +5
3-price consolidated around 75-80, it felt i wanted to get in a buy around as low as possible in this range so i bought at 76 +5
4-price came back down the 69-71 area where is was at previously so i took a buy there +5
5-priced pushed lower and started getting yellow right at the 50SMA on the 5min chart, BUY +5
6-shorted off the exit thinking it was going to push hard through the 50sma +10
7-took the buy off the exit got out of where the previous low was which now become the short term resistance at the spine +5
8-shorted again +3
Thursday, January 13, 2011
#11
Though it was out of my TF, you can clearly see the resistance at 74 on the 1hr chart, so when this made its run up I was waiting to took the short for +12
#6-10
6-price was consolidating, i took a buy in the direction of the trend exited at 26 again +8
7-started getting yellow took the short off 50 exited the spine +6
8-took the buy off the spine +8
9-took the buy again went against me added at the yellow exited +2, i was with the trend and within my rules
10-took the buy off the yellow +12
7-started getting yellow took the short off 50 exited the spine +6
8-took the buy off the spine +8
9-took the buy again went against me added at the yellow exited +2, i was with the trend and within my rules
10-took the buy off the yellow +12
NY #1-5
Trend is UP so looking for pullbacks to buy and key bounces
1-got green yellow but waited to get in at 00 +7
2-same trade +7
3-got yellow had resistance at 17, took the short, it stalled briefly then kept going. So my mind set is on any small pull back i will exit -2
4-still yellow my next bounce target was 26, same thing went against me, came back, thought it was going drop to 17, then went back up so now I am looking to exit minimal damage -4
5-finally it DID come back to 17 where i bought and exited at 26 +8
1-got green yellow but waited to get in at 00 +7
2-same trade +7
3-got yellow had resistance at 17, took the short, it stalled briefly then kept going. So my mind set is on any small pull back i will exit -2
4-still yellow my next bounce target was 26, same thing went against me, came back, thought it was going drop to 17, then went back up so now I am looking to exit minimal damage -4
5-finally it DID come back to 17 where i bought and exited at 26 +8
Wednesday, January 12, 2011
NY #7-12
7-again took the counter at 56 again off the yellow +3
8-and decided to buy off the spine, exited off the yellow +12
9-and shorted off the yellow +5
10-and bought off the spine +6
11-and shorted again off the yellow exited at the 56 spot +8 (should have bought)
12-had the support at 67 on the 5min chart so i shorted there exited off green +10
8-and decided to buy off the spine, exited off the yellow +12
9-and shorted off the yellow +5
10-and bought off the spine +6
11-and shorted again off the yellow exited at the 56 spot +8 (should have bought)
12-had the support at 67 on the 5min chart so i shorted there exited off green +10
2011 NY #1-6
1-trend is up but took a counter trade, started getting yellow but saw resistance at 47 on the 5min chart so i waited and shorted there +5
2-then i waited for the next signal, looking for a pullback to buy into this uptrend got yellow and had support at 23 on the 5min chart +10
3-again looking to get into a buy price consolidated so i took a buy same exit place +5
4-again started getting yellow waited for the 47 spot again, went a bit against me and came back +3
5-yellow again, counter trade +9
6-looking for pullbacks to buy got yellow i bought +9
2-then i waited for the next signal, looking for a pullback to buy into this uptrend got yellow and had support at 23 on the 5min chart +10
3-again looking to get into a buy price consolidated so i took a buy same exit place +5
4-again started getting yellow waited for the 47 spot again, went a bit against me and came back +3
5-yellow again, counter trade +9
6-looking for pullbacks to buy got yellow i bought +9
Subscribe to:
Posts (Atom)