isa's short term trading journal

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isatrader

Well-known member
Oct 20, 2010
2,926
126
73
Re: Gold Pivot?

Gold has caught my eye again today. It has broken out of it's recent downtrend, after bouncing on the 2 year trend line this week. I think if it can close the week strongly tomorrow then I will look to play it again next week.
That was last weeks quote, and gold is consolidating nicely above last weeks close. So I'm watching for a good weekly close this week above the 2 year trend line to get back into physical gold. Attached is the spot price chart.
 

Attachments

SlipperyC

Active member
May 1, 2003
514
2
28
Currently short the DAX, from 7324. £5/pt. Stop: 7340. Target: initial 7280, secondary 7215.

Couldn't post earlier, was busy. Had set a limit short last night as I thought the DAX might have another pop at the resistance area this morning.

Stop now moved to 7320 for +4.
 

SlipperyC

Active member
May 1, 2003
514
2
28
DAX hovering at 7280. Support or not? Time will tell.

If its still here in an hour I will close the short as the DAX may have another go at 7320 area on US open.
 

SlipperyC

Active member
May 1, 2003
514
2
28
11.55am Closed DAX short at 7285 for + 39.

Now LONG from 7286, £3/pt. Stop: 7275, target: 7315.
 

SlipperyC

Active member
May 1, 2003
514
2
28
Yep. That +39 pts this morning more than covered them so am Green for the week.

Still expecting some big moves in the next couple of days.
 

isatrader

Well-known member
Oct 20, 2010
2,926
126
73
Talvivaara Mining Rolling Spread

I've added to my position in Talvivaara Mining (TALV.L) on the pullback the moving averages. Earnings announced next Thursday.

Trade

Talvivaara Mining Rolling Spread
Direction: Long

Entry Price: 613.73
Spread: 3.37

Stop: 579.4
Target: 700

Account Risk: 0.42%
Potential Account Profit: 1.06%
Risk Ratio: 2.51
 

Attachments

SlipperyC

Active member
May 1, 2003
514
2
28
Was stopped out of previous DAX long for +1. Stop should have stayed at 7270.

Now short on DAX from 7330, £5/pt. Stop: 7352, target: 7280 initial, 7215 secondary.
 

isatrader

Well-known member
Oct 20, 2010
2,926
126
73
Stock Watchlist

Today's short term watchlist of FTSE 350 stocks for me to review at the weekend for next weeks trade.

Barratt Developments Plc (BDEV.L)
Hargreaves Lansdown (HL.L)
Millennium & Copthorne Hotels PLC (MLC.L)
DS Smith PLC (SMDS.L)

Yesterdays picks still looking promising
Centrica (CNA.L)
GKN (GKN.L)
Whitbread (WTB.L)

Dropped
Severn Trent (SVT.L)
 

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Last edited:

SlipperyC

Active member
May 1, 2003
514
2
28
DAX short update:

I committed the cardinal sin (again) of moving my stop up on the DAX short to 7360 from 7352 as I noticed it was creeping up. I was more confident in doing this because of the negative divergences I noticed in AUD/USD, DOW and NAS.

Luckily (!), Mubarak ignored Obama and stayed in power which helped my short this morning.

Still in, looking for a drop below 7280.
 

SlipperyC

Active member
May 1, 2003
514
2
28
1.20pm; Grrr. Returned from meeting, DAX short taken out!

Hindsight; obviously should have gone long at 7285 support area.

Set a limit short for 7340, £5/pt. Stop @ 7360.

Its either going to blow through 7350 area and make new highs OR its going down. I know what I think, lets see what happens.
 

Splitlink

Well-known member
Nov 18, 2001
10,850
1,230
223
1.20pm; Grrr. Returned from meeting, DAX short taken out!

Hindsight; obviously should have gone long at 7285 support area.

Set a limit short for 7340, £5/pt. Stop @ 7360.

Its either going to blow through 7350 area and make new highs OR its going down. I know what I think, lets see what happens.
:D You have two choices, like the rest of us.

I made some money, this morning, shorting FT and closing the trade. It's very crucial now, near the top, but I am closing my trading down for the day.

Very interesting thread.

Good trading to you all.
 

SlipperyC

Active member
May 1, 2003
514
2
28
DAX short: 7330, £5/pt. Stop: 7360. Target: 7215

Attached is an image of what may be happening on the DAX, I've added a red sloping line to show the potential downtrend beginning.
 

Attachments

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isatrader

Well-known member
Oct 20, 2010
2,926
126
73
I'm not going to take any new positions today. BG Group is ticking up again and TALV is flat, so just looking for my pick for next week. 3-4 of the short term watchlist I posted last night are looking promising for it. So will see if I find any others today and make a decision over the weekend.
 

leonarda

Active member
Sep 15, 2009
589
23
28
DAX short: 7330, £5/pt. Stop: 7360. Target: 7215

Attached is an image of what may be happening on the DAX, I've added a red sloping line to show the potential downtrend beginning.
I see where you're going from your chart, but there is also a higher "low" and confirming higher "low" on the RSI. I would also say you're fighting a "strong" market that goes down only fleetingly on bad news and heads higher.
"let that trend be your friend..."

can't say i'm doing much better though, I am still down -9% YTD...:(