[INTRA-DAY ACTION]
Didn't get behind the desk till after 4pm today. Big $20+ pop in CME this morning, looking good as a medium term hold once it breaks the daily pattern.
GM looking good at support at $9.90, and I'm short TSO at $16.32. Little risk in this short, seems to have fallen off support, and despite the market being up TSO is down at new lows for the day.
Will be spending a lot of time this weekend going over some longer time scale charts. I start back at college next week, and I get Monday and Thursday off for day trading. I will probably trade larger positions through swing setups, as time management will be vital for me this year.
The hourly charts are what I'm going to be looking at. I will still be only trading US stocks and sectors - the only stock I am even considering for the UK is Rio Tinto on size and risk ratios.
Not sure how many charts will be worth posting today, potentially GM but not likely.
19:30 update:
You will not see an easier set up than this. Perfect bounce right up to the profit target without looking back on GM.
I am not waiting for signs of this topping here, as this is actually a triple top not just a double.
GM looking good at support at $9.90, and I'm short TSO at $16.32. Little risk in this short, seems to have fallen off support, and despite the market being up TSO is down at new lows for the day.
Will be spending a lot of time this weekend going over some longer time scale charts. I start back at college next week, and I get Monday and Thursday off for day trading. I will probably trade larger positions through swing setups, as time management will be vital for me this year.
The hourly charts are what I'm going to be looking at. I will still be only trading US stocks and sectors - the only stock I am even considering for the UK is Rio Tinto on size and risk ratios.
Not sure how many charts will be worth posting today, potentially GM but not likely.
19:30 update:
You will not see an easier set up than this. Perfect bounce right up to the profit target without looking back on GM.
I am not waiting for signs of this topping here, as this is actually a triple top not just a double.
0 comments:
Post a Comment