Friday, July 31, 2009

04th Week of July Sideways Trading

Monday
  • Monday morning gap up, gap fill trade
  • Then a short setup that got triggered to early, I learned to wait for double top or a trendline break to enter short
  • A long signal that got triggered to early V-bottoms simply dont work I have to wait before entering a trend trade.
  • Another long that also avoided trading short
On Tuesday
  • Then a couple of long signals that got avoided
  • 2 Short setups that did not work out, so i learned to once again wait for the trendline break
  • The last setup overnight did work
Wednesday
  • Counter trend signal long was the best trade of the week on the 10 min chart
  • Another long signal that retraced 100% before reaching its target on the next morning
Thursday
  • We had targets from the the 2nd Wednesday setup left but also the stop would have been hit, therefore no long trades on the 10 min chart.
  • Also no short trades as there has to be before the Setup a Bar with a Higher Low than the Low from 2 Bars ago so its clearly a fractal sell.
Friday
  • Short setup after news was good for some quick profits

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