Tuesday, August 25, 2009

25th Tuesday Up, Up, Up, Side




High of the Day: R1
Morning Reversal at: R1 at 5.41 am
US Market Open Move ended at: R2
at 11.15am
Low of the Day: Open
Close of the Day: Prior Day High

Loss -2 Points Elliot Wave
Profit 70 Points ART Method

As expected we had a very trending day today. The scalp trade on 3 am to break above the last swing high worked out and from then pretty much long with all my strategies. Well except elliot wave where the entry on 6:30 was simply wrong and the countertrend DP short setup on 9 am very risky.

Trading the US session was a bit tricky because of the news, so the indicator stopped me out, well better safe than sorry, nevertheless its good to trade multiple contracts on such situations, the first half will be exited before the news and the other half with a stop at break even after the news.

What I learned from the 1 min crude oil chart today was to avoid getting long when we are in a trading range, after 10:50 am I only trade the DAX long as it was more dynamic.

Tradelist

Exit Rules:
  • Trail short stop when the low of last bar reached the last target

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