Tomorrow's Chart Today-Part 2

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Personally I would not allow this trade to become a loss now. I would move my stop up to break even. You are seeing selling from a 5 minute Bollinger Band Moving Average. If it goes above
2067.50 take the 5 points.

 

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Out again on a break even. No more attempts to go long now. I'll wait until the next Sym Valley to see how it sets up at Noon.

 

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Moved my stop up too soon, but that happens. No big deal.

 

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Good selling opportunity at 78.00, you had to act fast, as soon as it popped above it.

 

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Wouldn't risk more than 4 to 6 ticks above 78.50.

 

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Has to break the 3x2 or it will likely get stopped out. Hasn't been able to do so but once again it may do the same thing we saw this morning. Stay up until 1230 and then reverse back down.

 

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Out with a loss. The way it curled down and then back up during 1200 30 Minute was more indicative of a buy instead of sell. 1230 is a Sym Peak so we will find out if that is the end of the rally for the day, but I will not attempt any more trades.

 

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Creating a Journal is a good thing. It helps you assess your data better and learn
more about yourself.

 

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Will we put a top in at 1030 and go down until mid-afternoon? Q Peak 1000 1430...
Q Valley 930 1230 1530...Sym Peak 900 1400 1600....Sym Valley 1030 1430

 

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I got short at 1030, filled at 99.25 today and the market did hit the 5 point target. The market did loose it's momentum and although trend traders tried to push it higher after 1030 I stayed with the trade as there was no indication of any serious buying. 1430 is the next time frame to look at, but I will not re-enter the market.