[INTRA-DAY ACTION]
I'm using a new strategy this morning: enter a trade and leave the desk.
I'm long on XTA and short on WEIR for today. I am going to hold XTA for the next week, as it has bounced quite nicely off the 200MA as per my analysis and there has been some institutional investment in the stock this morning too.
I will evaluate WEIR at about 15:30, as this is having an inside day, very small trading range. I get the feeling I am right with my short, but with all the volatility in the market, it could potentially spike up on Monday thus I am reluctant to hold over the weekend. Given the strong selling pressure, this could just represent a very small 180, while it takes a breather, before continuing with the drops next week.
CBG is gearing up for a sell signal, also AFR - I don't know how I missed this but it's at 138p (sell signal was 160p). These are the kind of movements that make me want to trade more mechanically, as I would be in and out by now without really doing anything. TLPR is also registering a sell signal as I write - but there are some sizeable orders on the book providing support, so I'm reluctant to enter until these are cleared.
Seems a quiet day today, probably because I'm not really watching the market. FTSE down 0.5%, nothing major happening. Most of the gainers and losers this morning have been small cap energy stocks. A few of the coal stocks look to be moving up following retracements.
Update 13:00
Having a pretty decent day, mostly because I'm in profit, and partly because I'm starting to get more effective with TA in shorter timescales. I've taken profits in WEIR, I sold at the bottom today and have watched it rally up to prior support - I might re-enter if it rejects these levels.
My XTA is still looking ok, as it forms an ascending wedge and is just topping at 3757 - a level I might sell at, again if it is rejected. Going to see if it holds 10 and 20MAs first before selling. I said I would let this run, and I have, but it has really struggled at this price all day.
The thing that is most annoying is that ADVFN is down, and I can't access my L2 service at the moment.
OK I've just sold out, it's rejecting that strongly. I don't have the book in front of me so I can't check the strength of the rejection, but better safe than sorry and with profits locked in. It's not best to reverse position without the book, however I will re-enter on a break of this resistance, which should confirm the start of a good 2 week rally.
The rally on WEIR looks in trouble as it hits a series of inside bars with a triple top. I think this could hit resistance at priot support of ¬847 before dropping again.
Bit of indecision on XTA at the moment, this could pop anytime soon.
I'm long on XTA and short on WEIR for today. I am going to hold XTA for the next week, as it has bounced quite nicely off the 200MA as per my analysis and there has been some institutional investment in the stock this morning too.
I will evaluate WEIR at about 15:30, as this is having an inside day, very small trading range. I get the feeling I am right with my short, but with all the volatility in the market, it could potentially spike up on Monday thus I am reluctant to hold over the weekend. Given the strong selling pressure, this could just represent a very small 180, while it takes a breather, before continuing with the drops next week.
CBG is gearing up for a sell signal, also AFR - I don't know how I missed this but it's at 138p (sell signal was 160p). These are the kind of movements that make me want to trade more mechanically, as I would be in and out by now without really doing anything. TLPR is also registering a sell signal as I write - but there are some sizeable orders on the book providing support, so I'm reluctant to enter until these are cleared.
Seems a quiet day today, probably because I'm not really watching the market. FTSE down 0.5%, nothing major happening. Most of the gainers and losers this morning have been small cap energy stocks. A few of the coal stocks look to be moving up following retracements.
Update 13:00
Having a pretty decent day, mostly because I'm in profit, and partly because I'm starting to get more effective with TA in shorter timescales. I've taken profits in WEIR, I sold at the bottom today and have watched it rally up to prior support - I might re-enter if it rejects these levels.
My XTA is still looking ok, as it forms an ascending wedge and is just topping at 3757 - a level I might sell at, again if it is rejected. Going to see if it holds 10 and 20MAs first before selling. I said I would let this run, and I have, but it has really struggled at this price all day.
The thing that is most annoying is that ADVFN is down, and I can't access my L2 service at the moment.
OK I've just sold out, it's rejecting that strongly. I don't have the book in front of me so I can't check the strength of the rejection, but better safe than sorry and with profits locked in. It's not best to reverse position without the book, however I will re-enter on a break of this resistance, which should confirm the start of a good 2 week rally.
The rally on WEIR looks in trouble as it hits a series of inside bars with a triple top. I think this could hit resistance at priot support of ¬847 before dropping again.
Bit of indecision on XTA at the moment, this could pop anytime soon.
0 comments:
Post a Comment