Posts Tagged igindex
The DOW was clearly in a downtrend today but when I got to the charts, it was retracing and I looked for an entry to go short. I went short around 10610 after the retracement make a double top in the 5 minute charts (also stochastics has peaked). The first support line was at the pivot point S2 but nothing happened and the market broke through this relatively easily. I was also conscious that stochastics were at a low too and would look to making some move upwards so when the market hit 10585, I
August 10, 2010
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Today, I'm sad to say that I didn't listen to my instinct when it came to trading. I was being too clever and thinking about what the market was doing.
Look at the chart below. The market had hit the pivot point the first time and retraced. It then moved upwards and this was the time where I got back home and look at the market... it had retraced off the pivot and some strong movement up again towards it. I was a littl reluctant to put on the long as the pivot point was so close again when I
July 20, 2010
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Well, back to trading the DOW, I was looking scalp for a few points and initially had my mind fixed on taking 30 points...
I was looking to see if the DOW would break below the S1 pivot point which was also a support line the DOW had responded to earlier. I place my entry at 9694 just to be sure it was lower than the previous low point set. The market gave me my trade and it went nicely the right direction.. I had set my limit to be 9664.
The market however didn't want to give me my 30 poi
July 1, 2010
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