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Monday, November 22, 2010

#27-31

27-i had support at 83 on my 5min charts took the buy +3.5
28-same trade but held it a bit longer as one of my indicators told me some divergence was forming +7
29-priced moved up a bit more and shorted into the down move a quick +3.
30-same trade as #27 +3.5
31-jumped in a buy I should have waited for yellow +3
I should be done for a little bit.  Fighting the flu...    

#22-26

22-london closed, dow started rolling more negative took the buy again at 00 +2
23-was getting yellow, at this point I was not sure where to enter but thought 89/90 was a good spot got in at 90, went a bit a against me exited at the spine +3.5
24-shorted at the spine into the down move again went a bit against me and exited at my earlier entry spot +3.5
25-then it broke down hard i had 79 as the resistance on the 5min chart got yellow so i bought there +9
26-shorted again at 90 +2 

#14-21

14-i had support on the 5min at 06 priced stretched to it got yellow and took a quick +2
15-same trade, yellow, except i targeted the 00 as entry +3.5
16-shorted off the spine and my resistance area at 06 into the downtrend exited at 00 +6
17-priced stretched again, yellow, bought +7 
18-started getting red for reversal, also getting close to the london close so i waited for a little better entry +7
19-bought off the exit +3
20-pushed lower got yellow past my time to trade but took a quick buy +3
21-price reversed back up but earlier the 21 area had shown support got yellow and could not resistance a quick short into the downtrend for +4 

#5-13

5-dow started rolling down neg from -35 then went to -60 and price started dropping again, i got yellow but waited and took the buy off the previous support at 32, again it went against me then came back i exited BE and
6-shorted into the downmove as the support at 32 became the resistance +4
7-shorted off the spine +4
8-price stretched took a buy exited the spine +5
9-shorted off the spine again exited at the earlier entry +5
10-thought the price might try and move back up to my entry place on trade #8 which now is the resistance area at 25 so i shorted there into the downmove took another +5
11-price stretched again to my earlier entry spot at 14 took the buy and exited at my previous spot on trade #10 +5
12-shorted again into the downmove off the spine and took +5
13-price stretched down to the lows of earlier and i took a quick buy +2

NY #1-4

1-Trend is down, red, short +6
2-yellow bought off the resisatance i saw on the 5min chart +3.5
3-small penetration of the spine and shorted into the downtrend, it got away from me but i was with the trend so i held it exited +1.5
4-again shorted into the down trend off the support that was created earlier, the dow at this time had been -55 then went -35 and price started moving back up, I had resistance at 59 so i added a position there,my BE price was 50 exited +3  

Thursday, November 11, 2010

5Min chart, reading the chart, bounces and entries...

the checks mark various entries. some produce good pips others just a few and a couple go against you a little.   This is just another example of another session.

Wednesday, November 3, 2010

15min chart, spotting areas where price has found support...

I have marked up this chart to show you where price has found support and been rejected so when the price heads up or down you can look at your 15m chart and say ok if it pushes there i am looking for a rejection