The Trading Game - Oct 2013: Week 3

I'm long on the Dow cash 15160 with a stop of 15110 limit 15226.
The move is based on the 50% retrace from the Low 14726 to 15226. This doesn't quite take it back to Fridays close of 15237.
The Dax and FTSE are indicating support for the Dow at current levels and its only likely that we will see positive news on the debt ceiling as all the bad news is easily factored in.
The stop is below support at 15126 which was first put in as resistance on 31st May and tested today.
 
postman said:
I'm long on the Dow cash 15160 with a stop of 15110 limit 15226.
The move is based on the 50% retrace from the Low 14726 to 15226. This doesn't quite take it back to Fridays close of 15237.
The Dax and FTSE are indicating support for the Dow at current levels and its only likely that we will see positive news on the debt ceiling as all the bad news is easily factored in.
The stop is below support at 15126 which was first put in as resistance on 31st May and tested today.
Click to expand...

I've moved my stop up to 15170. I'm in profit, good start to the week, 26 points to go !
 
Short ES here at 1705.5
stop at 1712.5
Price/momentum starting to diverge. Hitting a fib.
Quite a run-up from this morning.
Am hoping that all the traders who shorted the gap fill level earlier
are getting stopped out about now, ripe for a reversal down without them same traders
on board for the move. We've all been there before! Worth a shot. Innit to win it....
 

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Long DAX at 8760 and short DOW at 15,305
Ratio 1.74 = DAX 1.74 and DOW 1

Current variance -38 for the week.

Looking for variance back to or close to Zero, stop will be first 1 to 2 hours in Euro session if not playing ball.
German ZEW will decide the outcome of the trade.
 

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bustech said:
Long DAX at 8760 and short DOW at 15,305
Ratio 1.74 = DAX 1.74 and DOW 1

Current variance -38 for the week.

Looking for variance back to or close to Zero, stop will be first 1 to 2 hours in Euro session if not playing ball.
German ZEW will decide the outcome of the trade.
Click to expand...

Closed DOW 15,301 + 4 points
Closed DAX 8,780 + 20 points x 1.74

Variance now - 10
 

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scholfield said:
Short ES here at 1705.25
stop at 1712.5
Price/momentum starting to diverge. Hitting its 76.4 fib.
Quite a run-up from this morning.
Am hoping that all the traders who shorted the gap fill level earlier
are getting stopped out about now, ripe for a reversal down without them same traders on board for the move. We've all been there before!
Worth a shot. Innit to win it....
Click to expand...

And Closing it here at 1696.25 for +9 ES points

It's approaching demand lines. Momentum still up, so as good a place as any to take profits.
 

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Here are the results from week 3:

1. postman (3 votes) = 10 points
2. schofield (2 votes) = 8 points
3. bustech (1 vote) = 6 points
4. Zen Archer (1 vote) = 4 points
5. --- no 5th entry ---

Congratulations to the those players and a big thank for taking part.

If you have any suggestions for how to improve the game then feel free to post them on the original announcement http://www.trade2win.com/boards/t2w-announcements/179522-trading-game.html

Week 4 is already underway, enter now and don't forget to vote for the trades you like...
http://www.trade2win.com/boards/t2w-announcements/180220-trading-game-oct-2013-week-4-a.html
 
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