SLA Interday Trading Plan

gotu

Active member
100 7
Closed second third crude oil since hourly not showing strong demand.

The new short is interesting, price is not really plunging as it should if it was a real rejection of the channel upper limit. Price is just not heading lower and it appears that buyers are coming in supporting price making a higher low. Currently price is in an hourly range and I will take 1/2 out if we break higher.

This forced improvisation is making me realize the importance of adding to my plan a set of rules in what to do when I enter but price just sits there for days not really heading my way. I will be studying my charts in orther to establish the most beneficial rules.

Another thing about this new short is that it is contrary to the major trend and hence carries more risk, as per my plan I look for setups that are in harmony with the most recent weekly trendline, this is also something I will be back testing.

I am also looking at a new entry in mc ewen mining (MUX) long if we make a new high at 3,31.

Current position;
Long crude oil 1/3
Long t bond 1/3
Long euro 3/3
Short nq 1/2
 
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gotu

Active member
100 7
Closed remaining crude today, big drop no support.

Interesting rejection in the Nq yesterday, will ad full short if we make a new low on the hourly which would confirm weakness.
 

gotu

Active member
100 7
Closed remaining NQ it's just not going down, will rernter if weakness comes back below 5390.
 

gotu

Active member
100 7
Looking back at gold, the weekly trend is up on the daily price cleared the most recent resistance at 1260.

I am potentially seeing current action as a retrcement and will go long if we break above yesterdays high. This is a setup that I haven't tested as much as the standard reversal and I a entering at the trough of the retrcement so I am using a lower size and smaller stop.
 

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gotu

Active member
100 7
Stop loss hit on gold.
Closed remaining 1/3 t bond.

Will go long NZD/usd if we make a new high on the hourly. Long dollar trade beginning to unwind and after two lower highs it looks likely that dollar index price will return to the mid 90s area

Possition;

Long 3/3 EUR/usd
 

gotu

Active member
100 7
Long GBP if we break above 1,26.

Breakout from base and retrecement, plus aforementioned USD weakness.
 

gotu

Active member
100 7
Euro forming range at previous high, will take 1/3 out if price breaks below the hourly range.

GBP long triggered yesterday, so far in profit and price is hovering at the previous high, if price was to break the DL this would invalidate de retrcement.

Crude oil back at the weekly trend line and once again showing supportz, daily supply line was broken today and will go long if price a new hourly high.
 

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gotu

Active member
100 7
Gbp closed small profit as dl broken.
Euro closed 1/2 will close remaining if bottom range broken
Crude will go long if price breaks yesterday's high; climax and ret and weekly uptrend.
 

Pricetrading

Junior member
16 0
Some thoughts,

SLA entry, trend continuation GOLD


attachment.php

:smart:
 

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Convergence

Active member
109 8
Some thoughts,

SLA entry, trend continuation GOLD


attachment.php

:smart:

Am considering a short in Gold also but what I would really like too see is a false breakout sucking in longs and taking out the stops of shorts in the 1236 area a quick breakout and then a return to below resistance and I would definately go short, but probably not without that kind of move first
 

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Convergence

Active member
109 8
False breakout/stop hunt developing? I hope so, just need a nice bearish pinbar/engulfing candle
 

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gotu

Active member
100 7
I just parchased some silver, monthly and weekly downtrend broken in 2016 and standard break of supply line and Hlow at support.

I also purchased some gold last week which I didn't publish in time.

Crude oil moving swiftly, will take 1/3 out if price reaches 54 with no do break.
 

gotu

Active member
100 7
NQ broke daily trend line last week and now retracing. Hourly chart is forming a lower high, my standard entry of hourly break of dl and lower high. I just placed an order so if there is a lower low I will enter short.

I am apprehensive about this trade since I am trading against the weekly uptrend, also last two times I shorted the nq I took one loss and one scratch. My conclusion was the danger of trading counter trend.

On the other hand, long technology is the most crowded trade out there and The Economists cover last month seems like a bad omen for tech stocks. Hence I am entering this order with more confidence, albeit reluctantly since my system ordinarily looks for setups in harmony with monthly and weekly trends.

There is also the case of entering from the hourly, perhaps prematurely without allowing for the daily retracement to run its course. But up till now, the only way I have found to define accurately and objectively a RET is by using break of demand lines, lower highs and lower lows on the hourly chart.
 

gotu

Active member
100 7
Unsurprisingly, the Nq short was triggered yesterday as per my rules and I sold the low of the day, after which price rocketed and stopped me out.

There is no sign of buying exhaustion so far and Europe is very undervalued relative to us stocks, the Dax making and holding new highs, hence I have shifted my focus towards Germany, and I will be buying Deutsche Wohnen if price makes a new daily high. It is a growing company, with low pe and looking to make new all time highs, seems like the ideal candidate to buy in such a strong up trending market.

Technically, it is forming a springboard of sorts at a previous high which allows for a tight stop loss below the springboard. Order entered, waiting to see if price breaks to the upside.
 
 
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