Wednesday, September 3, 2008




Some thoughts on oil

77-88 to me looks like a good area for support to come in.
Missed this pnf chart, I had it under my candlesticks and failed to check it. 50pip move here.

Lat entry on this, I was watching it for 2hours for this entry, but it didn't line up, I took the GBP/USD coorelation on this EUR/USD trade

entry1@ 13
entry2@ 17
avg entry@ 15

stopped out at 10
-5pips.
Somethings to note: my kid came home right at this time, so had to leave my stop at 10, I could likely have averaged down for a profit since my size was really small and walked away with a profit even on a 3pip bounce from 10.

Also note, rising trendline was respected when in fact i expected a lower support, then note the pnf chart of double bottom(the dbl bottom line was not drawn yet, but it support was there for the dbl bottom. Swing point to swing point was 50pips. At the peak of my trade i was in a net +10pips. Due to the late entry I should have recognized the coming support and scaled atleast half.

Shot of S&P 500, we could have a USD bounce, also note the increased volume on the daily candlestick chart, but failed to make new lows, signaling a possibility of bounce at support.

Nice Euro push



2 missed trades, posted for my experience.
1st one at midnight London(6:00pmHI), breakout to the downside.
2nd one, a reversal, note the bottom at Daily s2 and the time it cooincided with London Lunch. London boys cashed some out before lunch, then came back 2hours later as the NY boys begin rolling in to their offices, "o we hit the D s2, lets buy low and sell high"
Which also goes with HL, macd cross-stoch, and the 50% fib.
Good chart for a variety of lessons.

Scalp the CANUCKs

Scalp, in at 106.90-
exit1 @ 63(1/5) = +47
exit2 @ 70(4/5) = +40



Tuesday, September 2, 2008

Chart correction on news trade

News Trade


News trade here. Got filled late, used a limit order, and a market order, it missed my limit order, then my market was filled at 90...exitted at 04 and 11.
+14
+21

Lame on the late order, only half my size as my limit order was not filled.