S&P emini trading blog – 5th Feb – Missed most of the action by the time I got home!
When I got back home, the markets had already plummetted.. I wasn’t sure if I could pick up anything at this stage. I missed an entry at around 18:20 GMT to short below 135000.. this would have been quite nice.
Anyway, my first entry was a short at 134850.. it started to pull away. I saw this as a possible move lower… the stochastics were approaching overbought level in the 5 mins and 1 mins. However, I was proved wrong and took a 8 price hit.
As the market inched higher, suddenly all indicators looked good for a long so I went long at 135000. I was wary that there was resistance in both 5 and 15 min charts from overhead MAs (see chart). These proved to be true and market fell away from here. I got out at 135100 for +5.
I should have shorted below 135000 as you can see that the stochastics have reversed in the 5 mins…
Overall -3 today
