Bloodhound
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Aren't Dow furtures down at the moment?
Have a look at the overnight chart.
It did go down to 8150 at around 5 a.m UK time and at around 7 a.m was at around 8200 followed by a fall but stayed above 8150. Now at 8223 (cash)
Geofract
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Hats off to you!
fast trader7
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Well done mate, I did not take that trade,but i was watching your analysis.
Spot on.
Keep posting
Bloodhound
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I agree - will be interesting to see if it can break 4300
Bloodhound
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Just waiting to see how this 15 minute candle closes before committing to another short position. Rather painful morning so far!!
KJ
Bloodhound
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Placed and order to go short at 4270 - 20 point stop and 40 point target...
KJ
KJ
Chelski
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Finally Broken!
minime69
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vinicius
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Exactly..! Price strugling to find its way.. 2 more to go and I take the day off..!
Watch the 50 EMA and 4265 at fib level.. If those levels dont hold the price we were right in the morning and we`ll see price going to 4150 in the next couple of days..!
Bloodhound
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Right - back in again. Bring on the bears!!!
Just thought I could chuck this up here as a potential help for some of traders newer to the game, an example of what NOT to do, and then what to do, as just occured for for me, hopefully it will be useful to some. (plus I think it is useful to review trades and learn myself!)
My first bad trade was where I drew that horizontal black line, which was a short. I think this is a bad trade because I am going short into some resistance from 11 38(ish). Obviously that graph is after the event, but I went in on a nearly full green bar (lol) that had a tiny upper shadow, I foolishly took this as the key to the continuation on downtrend!
I had seen it happen a few bars earlier and didn't want to miss it again. Got busted out for -7.2 which for a start is higher than I want my losses to be.
The good trade was at the red chart line, at 4277.6 I have got my criteria ticked (proper candlestick formation) and it has pulled back to the level of previous support, now resistance. Perfect. Target was the turqouise spray, which got filled. It may go lower, but I am happy to lock in 10 points. My stops are (usually
) only 3 or 4 and 10 is usually the level I start to put very tight stops behind all bars, PLUS the previous resistance. I was really just looking for my 10, if goes lower so be it and there may be further opportunities to get in.
My first bad trade was where I drew that horizontal black line, which was a short. I think this is a bad trade because I am going short into some resistance from 11 38(ish). Obviously that graph is after the event, but I went in on a nearly full green bar (lol) that had a tiny upper shadow, I foolishly took this as the key to the continuation on downtrend!
I had seen it happen a few bars earlier and didn't want to miss it again. Got busted out for -7.2 which for a start is higher than I want my losses to be.
The good trade was at the red chart line, at 4277.6 I have got my criteria ticked (proper candlestick formation) and it has pulled back to the level of previous support, now resistance. Perfect. Target was the turqouise spray, which got filled. It may go lower, but I am happy to lock in 10 points. My stops are (usually
) only 3 or 4 and 10 is usually the level I start to put very tight stops behind all bars, PLUS the previous resistance. I was really just looking for my 10, if goes lower so be it and there may be further opportunities to get in.Attachments
Bloodhound
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Stop to break even at 4270.....
vinicius
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Just thought I could chuck this up here as a potential help for some of traders newer to the game, an example of what NOT to do, and then what to do, as just occured for for me, hopefully it will be useful to some. (plus I think it is useful to review trades and learn myself!)
My first bad trade was where I drew that horizontal black line, which was a short. I think this is a bad trade because I am going short into some resistance from 11 38(ish). Obviously that graph is after the event, but I went in on a nearly full green bar (lol) that had a tiny upper shadow, I foolishly took this as the key to the continuation on downtrend!
I had seen it happen a few bars earlier and didn't want to miss it again. Got busted out for -7.2 which for a start is higher than I want my losses to be.
The good trade was at the red chart line, at 4277.6 I have got my criteria ticked (proper candlestick formation) and it has pulled back to the level of previous support, now resistance. Perfect. Target was the turqouise spray, which got filled. It may go lower, but I am happy to lock in 10 points. My stops are (usually
Could you put some arrows to show your entries and exits?
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