approx 40+ point opening gap up, with approx 30+ extension from there, with approx 10-15 point retraces, not exactly sleepy IMO.
Johnny Rock's comeback
- Thread starter johnnyrock
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approx 40+ point opening gap up, with approx 30+ extension from there, with approx 10-15 point retraces, not exactly sleepy IMO.
Nice opportunity for overseas traders but personally, I avoid trading when I'm asleep, drinking or under anesthesia.
Short CL
Um, no, it has been sleepy. It has been stair-stepping up all day except for the huge jump yesterday, with a couple bursts long and with a small burst short thus far. It has not presented itself with good entries for my system. So I lost out on the slow bubbling rise.
That 40+ point "gap" happened during calendar-day Sunday ET to Monday morning ET, by the way. Did you catch any of the "gap"? I missed it.
Gap gap gap.
Just one traders interpretation.
MY day starts @ 5:30am PST. By RTH open I had 3 trades done and was green. So yes, I "caught" some of the gap.
I will cover this in the last half hour. However, if funds were more than available I would hold this for a drop to the 50 SMA.
This entry went into my private journal.
Covered. $420 gain. New balance $4300.
Bias:
Neutral. At new highs I will be looking for trend days on the long side.
This could be seen as a failure of a failure, but that is the kind of thinking that drains my account.
Neutral. At new highs I will be looking for trend days on the long side.
This could be seen as a failure of a failure, but that is the kind of thinking that drains my account.
I keep saying that I am going to take trending trades on trending days (this was not one). This was a countertrend trade on Sunday evening. I pulled a winner last Sunday, but - for the sake of my progress - I want to analyze my losing trades.
Click the chart to see where I entered on what could have been a double top. The 240'/daily charts both confirmed short term resistance, so I had two things in my favor.
In hindsight I had two things against me: a propensity for dip buyers to win and a fundamental shift on NK and the thought of war. Or was it something else? It doesn't really matter or does it? I don't know. What I NEED to know is if these counter trend trades are profitable for me? I also wonder why I still take them? Probably because I think they are profitable. This journal will give cold, hard facts.
Will I analyze the winners? Nope. Impulse. Contraction. Impulse. Pretty standard when I do it right.