Today we're going to be posting as each trade has finished since we're live trading. We opened at the top of the daily swing area and Friday's trading had previously created a range on the hourly chart there. We open somewhere at the middle of the range, rally and don't quite get to resistance, and then fall back to the support area created by the previous hinge's mid point.
We go long there at 16075.
We exit at 16089 after there is a decisive break of our fanned trendline. Since we're trading one lots for now to get used to the interface, we stop there and wait to see what happens next.
We reach the first of two resistance areas and wait for signs to go short.
Price attempts to breach the higher hourly resistance and seems to fail. We go short at 16108 with a stop at 16118.
Buying pressure causes a breakout and we immediately reverse and go long. We decide to buy on the breakout because of the way the hourly chart rallied from support. So far we've had one win for for 14 points and a loss for 9 points giving us 5 points net for the day.
A lower swing high forms and we move our stop to the next swing low. This gets taken out and we're down 6 points for this trade, or 1 point overall for the day.
Price falls out of the mini range and we short the retracement of the breakdown at 16105 but price rallies almost right away and our stop gets taken out at 16109. It then breaks the minor resistance area on the top and we go long at 16120.
We go long there at 16075.
We exit at 16089 after there is a decisive break of our fanned trendline. Since we're trading one lots for now to get used to the interface, we stop there and wait to see what happens next.
We reach the first of two resistance areas and wait for signs to go short.
Price attempts to breach the higher hourly resistance and seems to fail. We go short at 16108 with a stop at 16118.
Buying pressure causes a breakout and we immediately reverse and go long. We decide to buy on the breakout because of the way the hourly chart rallied from support. So far we've had one win for for 14 points and a loss for 9 points giving us 5 points net for the day.
A lower swing high forms and we move our stop to the next swing low. This gets taken out and we're down 6 points for this trade, or 1 point overall for the day.
Price falls out of the mini range and we short the retracement of the breakdown at 16105 but price rallies almost right away and our stop gets taken out at 16109. It then breaks the minor resistance area on the top and we go long at 16120.
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