Diary of a swing spread better

[hungvir]

Went long at 10947. The rounded bottom looks quite nice.

 

[hungvir]

This trade is a bit risky as I missed the first two strong buy signals. This is the third one since the trend change and it's near potential resistance of 10950 but it came up there once and I trust that it will break thru this time. Will watch 10980 closely if the trade goes my way.

 

[hungvir]

Closed the trade for 16 points.

 

[hungvir]

That was 16 points in six minutes. And tell me about removing emotion! I can feel my heart beating faster each time I trade.

 

[hungvir]

It went all the way to 10980 but I got what I came for and there'll be no big regret

 

[hungvir]

But if someone says I should let my profit grow a bit more, I'll agree as well Haven't mastered that.

 

[hungvir]

It looks like it may come back to offer me a lift again. Should I take the offer once it's there?! May be and may be not.

 

[hungvir]

I am glad that I spotted the potential resistance level of 10980 on a longer time frame chart. It's pulling back big time now.

 

[hungvir]

Longed again at 10979.

 

[hungvir]

Another rounded bottom is here. I have every confidence in this trade. Stop loss is at 10966 market price.

 

[hungvir]

Will get out again when the top band of the BB is pierced next.

 

[hungvir]

Stop loss is now at 10974.

 

[hungvir]

Closed the trade at break even. I don't like it when the market hesitates.

 

[hungvir]

This is a bit of a 'uncharted territory' on the one min chart. We haven't seen this level for many many past minutes.

 

[JillyB]

Closed the trade at break even. I don't like it when the market hesitates.

Hi Hung

If you look on a 3hr chart you will find resistance around the 10,965-70 level. This is what it is struggling with at the moment. It's also moved a considerable distance away from the 20 MA and the price will always be drawn back to it - either by the 20MA coming up, whilst the price moves horizontally, or by the price retracing to the 20MA.

I would envisage a small retracement from the current level (10,972) before the close tonight. But overall, it's been another good day for the bulls.

 

[hungvir]

Will it stay range-bound and then go down a bit. Given that we're still in a short-term down trend, the scenario is likely.

I'll go an edit an interview but will keep an eye on it. Won't go long again but if it plunged headlong, I'll go short.

 

[chindl]

Big flag pole on the 30 min charts, but too late in the session. Not sure I'm focused enough for the last hr. Let's see. Missed a stonkin move from my post at 7-15, the one from the final whistle. That would have paid for the week. See Ben's been sticking his oar in again today....

 

[hungvir]

Hi Hung

If you look on a 3hr chart you will find resistance around the 10,965-70 level. This is what it is struggling with at the moment. It's also moved a considerable distance away from the 20 MA and the price will always be drawn back to it - either by the 20MA coming up, whilst the price moves horizontally, or by the price retracing to the 20MA.

I would envisage a small retracement from the current level (10,972) before the close tonight. But overall, it's been another good day for the bulls.

Thank you, Jilly. Hope you're doing well!

I haven't used three hour charts for the simple reason that ADVFN does not offer it

Later,

Hung

 

[chindl]

160 gain on the day so far - the probabilities would support letting off a little steam, lets see. Trade the plan not the feelings.

 

[JillyB]

Thank you, Jilly. Hope you're doing well!

I haven't used three hour charts for the simple reason that ADVFN does not offer it

Later,

Hung

Does it have 1hr charts?

If so the resistance is evident on these too, from the 8th & 9th of June highs.

Hope this helps.