Hi guys,Today, I wanted to show you some more nuance in my trade (or no trade) decisions. I have enclosed a 30 minute chart so you could see why I was interested in the 894 level. You can also see the Initiated Selling at the 889 area which I also shorted. The 1.25 Range Chart showed a pretty similar picture, so I didn't include it here. These two trades set up really nicely.
I snag shots throughout the day whenever I see anything interesting. I constantly analyze what I am seeing (or think I am seeing). Then I note what actually occurred. I also snag shots of stuff I missed in real time, so I can be more aware of it.
Hope it helps.
MG
gr8 educational post MG! i just have a couple of ?'s if you don't mind.
ReplyDeleteWhere you limit offering 894 or did you wait for the pullback to complete to see if sellers appeared and then entered limit just below 894?
What was your target for this trade the DVAH? Or did you simply move to b/e or take some profit when buyers came in around 892?
I'll take a shot at answering this in hindsight analysis and say if I was short I'd wait to see the action at the DVAH and when 7k buyers came in at 10:56 I'd look to take some profit or at the least move my stop to b/e.
Interested in hearing your thoughts.
m1c
HI Mic,
ReplyDeleteThanks for the question. I used a limit. I felt that if I was wrong that we would likely see a turnaround within a few points above this as we had Wednesday's high, Tuesday's low and initiated buying all up in that range. So, I wanted to get in close to 94.
I exited as you speculated.
Hope it helps,
MG