[EXTREME TECHNICAL ANALYSIS]
Todays move was probably the best technical setup I have ever seen. I'll go over the daily, hourly, and 5min and explain why every timescale pointed to a rally.
Retrospectively of course, however I do believe there are a lot of people today who saw this coming and took positions accordingly and hats off to them! Just goes to show how much college gets in the way of trading lol.
OK here we go. Were you smart enough to enter the trade in the short term?
If yes, were you able to choose the logical exit area?
Backed up of course with the old principle of prior support being future resistance;
Trading is not hard! Here's my blotter for the day and a brief explanation
Opened the day seriously in the hole with a bad GS short from yesterday. Was down over $2500 at one point. I traded on immense size with a series of scalps to get it back green. Realistically this trade would have been impossible as somebody shorting $700k worth of GS would never get a quick fill would they? Seriously over leveraged too, caught out a few times so reversed which is a tactic I continue to use to winning effect.
Bond trades were also 10 contract scalps ranging from -$800-+$3000 and were relatively easy despite closing and reversing a lot.
FX trade was a bear flag which I entered on significant size on an easy setup and I still hold 250k short.
SPY trades were all large positions during a consolidation range that formed in the final 30 minutes. Made about 6 round trips in that range for good profit, some of it was mirrored with YM trades too.
Apart from the start of the day with the GS trades, at no point was I exposed to that much risk and I didn't have any severe drawdowns. Two essential ingredients to a successful and consistent trading day.
I bet we've got some fresh millionaires somewhere in the World tonight.
Retrospectively of course, however I do believe there are a lot of people today who saw this coming and took positions accordingly and hats off to them! Just goes to show how much college gets in the way of trading lol.
OK here we go. Were you smart enough to enter the trade in the short term?
If yes, were you able to choose the logical exit area?
Backed up of course with the old principle of prior support being future resistance;
Trading is not hard! Here's my blotter for the day and a brief explanation
Opened the day seriously in the hole with a bad GS short from yesterday. Was down over $2500 at one point. I traded on immense size with a series of scalps to get it back green. Realistically this trade would have been impossible as somebody shorting $700k worth of GS would never get a quick fill would they? Seriously over leveraged too, caught out a few times so reversed which is a tactic I continue to use to winning effect.
Bond trades were also 10 contract scalps ranging from -$800-+$3000 and were relatively easy despite closing and reversing a lot.
FX trade was a bear flag which I entered on significant size on an easy setup and I still hold 250k short.
SPY trades were all large positions during a consolidation range that formed in the final 30 minutes. Made about 6 round trips in that range for good profit, some of it was mirrored with YM trades too.
Apart from the start of the day with the GS trades, at no point was I exposed to that much risk and I didn't have any severe drawdowns. Two essential ingredients to a successful and consistent trading day.
I bet we've got some fresh millionaires somewhere in the World tonight.
very nice summary of the day, thx
http://www.bigmovingstock.com