Posts Tagged trading the dow
The markets have been rather choppy where pullbacks have been quite large. I've been focusing on the 15 minute charts to grab a few pips here and there. Here is what I did today.
My first trade was crude oil. I could see that a 'W' pattern had formed in the 15 minutes. I had talked about the W pattern before in previous posts on the blog.. you can read one here:
http://www.makemesomemoney.co.uk/2011/09/01/the-w-pattern-in-oil-price/
It's basically the market finding support. I went
December 12, 2011
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Today was one of those days where I had a fabulous trade but didn't stick to the plan. I had looked at the market and had put in an order to sell with a stop and a limit order and then that should have been it, I should have left it.
Here's what happened..
This was the DOW and I saw weakness in the market and had set an order to sell at 12120 which was a break below short term support. I had a target at 11940 which would have been a 180 target. However, I couldn't help myself
October 31, 2011
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![Went Long on DOW as it broke resistance]()
So today the DOW had been not doing much bouncing between 10300 and 10380. I was looking for a break either up or down to time my entry. I had an order at 10403 which was above the range but also above the round number.. round numbers are always areas of relatively strong resistance so I was mindful of that.
Additionally, the pivot was around 10429 or so which would be another hindrance to price moving upwards.
Anyway, my long was trigger and I managed to grab 25 points which was pretty aw
July 23, 2010
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