Long the Dow on Mon

This is a discussion on Long the Dow on Mon within the First Steps forums, part of the Reception category; Originally Posted by Lee Shepherd You made the call, how did you handle the trade? How did you get on ...

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Old Aug 8, 2008, 2:24am   #16
 
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markrand started this thread
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Originally Posted by Lee Shepherd View Post
You made the call, how did you handle the trade?

How did you get on with this trade, I see it was a tough one as it hit your 11330 around 09:00 then almost immediately started to slide to below your 11270 (presumed stop and 60pts under) to 11220. At around 16:40 it hit your buy level again to then rise to 11380 (50 pts over) at 19:40 to then slide once again to 11268 20 minutes prior to close again hitting your pressumed stop at 11270 and taking out another 60points.

All times are GMT and aproximate.
All market levels are mid prices so buy and sell prices or costs will be greater depending on spread or/and commission.

Also, did your buy signal on sunday take into account any news breaking or is it simply one graph and a few indicators only type thingy?

IT WAS A TOUGH TRADE!! but ...The entry was placed on sunday night 2330 and closed out on mon with a stop and reverse signal selling short 2 contracts at 11316 later that morning on completion of the 0200 hourly bar on mon (small loss). (Stop at 11380. Target predicted at 11220 - 11180 (fibinacci)). 1 contract was closed at 11265 ( 50 pts), at which point stop moved to entry price for the second contract. Second contract stoped out at 16:50 mon pm at 11316 (flat). New buy signal established 1800 mon at 11344 (long) which was then hit around 1910 mon eve. This position was closed at 2330 on th Wed 6th at 11602. All enties were based on technical chart analysis one graph and a few indicators only type thingy!!

currently short .....again!!
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Old Aug 8, 2008, 2:30am   #17
 
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Originally Posted by markrand View Post
IT WAS A TOUGH TRADE!! but ...The entry was placed on sunday night 2330 and closed out on mon with a stop and reverse signal selling short 2 contracts at 11316 later that morning on completion of the 0200 hourly bar on mon (small loss). (Stop at 11380. Target predicted at 11220 - 11180 (fibinacci)). 1 contract was closed at 11265 ( 50 pts), at which point stop moved to entry price for the second contract. Second contract stoped out at 16:50 mon pm at 11316 (flat). New buy signal established 1800 mon at 11344 (long) which was then hit around 1910 mon eve. This position was closed at 2330 on th Wed 6th at 11602. All enties were based on technical chart analysis one graph and a few indicators only type thingy!!

currently short .....again!!
stop at 11570 which would be flat if hit
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