Review of last night's trades. Okay...my take was wrong. That slow movement, where my SHORTS were decimated, was just a breather for the market to push higher past 1400.00, the " Magical Round Number ". We have yet to make a higher low on the TREND chart, in order to push higher. At the close of the session, we are seeing some consolidation in PRIME, coupled with a possible breach of support, both on the Trading chart.
Shall see if Globex PRICE movement presents a SHORTing opportunity. Am always careful when trading Globex, because of the wild swings, due to its illiquid nature.
09:41pm Just stepped into the house...The Reports have turned the whole SHORT signal around. Looking for Minor PPF to go LONG.
09:49pm LONG 1406.50 / STOP 1405.50 - This LONG must touch 1407.25 first. If not, I will get out the moment a failure occurs.
09:56pm First target hit. Next target 1407.75 - Also moving STOP to 1406.25
09:59pm Adjusting STOP to 1406.00 - Giving this pull back a little more space.
10:01pm Stopped 1406.00 / -0.50pts
10:02pm Great...now the TREND chart is turning & a Minor PPF of Resistance has occured on the Trading chart. Reversing to SHORT.
10:09pm SHORT 1406.25 / STOP 1407.25 - This SHORT must take out 1405.50
10:17pm PRICE just printed 1405.75 - Moving STOP to 1406.75
10:28pm We're got some "serious" gap to cover...so will try to ride this a bit longer, I hope.
10:35pm Out at 1404.50 / +1.75pts
10:41pm SHORT 1404.50 / STOP 1405.25
10:45pm Moving STOP to 1404.75
10:47pm Out at 1403.50 / +1.00pt
11:05pm SHORT 1404.00 / STOP 1405.00
11:08pm This SHORT must clear 1303.00
11:09pm Moving STOP to 1404.50 - Don't want to take too much loss on this one...if it turns out otherwise.
11:14pm Down we go...?
11:15pm Stopped at 1404.50 / -0.50pts - Just doesn't want to go down.
11:16pm Try again?
11:17pm A "non-rules" trade - Putting a SELL STOP at 1402.75
11:19pm A series of PPFs on the Trading chart - CONSOLIDATION.
11:27pm Interesting. PRIME MATCH at and 3 PRICE matches at 1405.75 - WEAKNESS
11:32pm Let's see if this PRIME MATCH is confirmed...
11:47pm We are caught in a 3 point range. Will just sit tight & watch.
11:53pm We finally broke out of the range - And my SELL STOP has been activated.
11:54pm Putting the STOP for this SHORT at 1403.75
12:02am Moving STOP to 1404.25 - Giving it a bit move space to move.
12:17am WHAT A BUMMER! See what happens to a "non-rules" trade? Stopped at 1404.25 / - 1.50pts
12:20am I'm done. 5 Trades - 3 Losers / 2 Winners.
Thursday, November 16, 2006
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment