[INTRA-DAY ACTION]
Pretty decent day for trading today. Lots of stocks in very clear consolidation ranges, particularly at the moment RIG which is desperately clinging onto $55. For the next few days consider trades short at $55 and loner over a retest of $57.5 as per this chart;
I am also impressed at the continued strength in USD/JPY lately. However for the short term I think the rally is over with 98/.05 the key levels here;
Oil has lots of medium term support but feel it will be extended around $46 with some longer term resistance looking to limit it soon.
In the shorter term this was my best trade of the day. Bit of an ascending wedge starting to form just now in the close so let's see if we top out tomorrow.
For those that caught it, HD at $19.3 was a nice short even though it bounced about 7 cents higher than I expected. I hold 250 of these overnight at $19.26. I would really have liked to close out before close but I was away without setting a limit. Watch HD for a rally tomorrow based on 123 S move with moving average support. Think there are a lot of shorts here.
And this is why I have to anticipate a bounce tomorrow. Dangerous candle at dangerous support levels. Although on closer inspection I could be ok.
Got gold wrong a few times today, the only solid entry today was a 123 S move at 922 resistance - the rest was untradable.
Pretty comprehensive summary of my trading day.
I am also impressed at the continued strength in USD/JPY lately. However for the short term I think the rally is over with 98/.05 the key levels here;
Oil has lots of medium term support but feel it will be extended around $46 with some longer term resistance looking to limit it soon.
In the shorter term this was my best trade of the day. Bit of an ascending wedge starting to form just now in the close so let's see if we top out tomorrow.
For those that caught it, HD at $19.3 was a nice short even though it bounced about 7 cents higher than I expected. I hold 250 of these overnight at $19.26. I would really have liked to close out before close but I was away without setting a limit. Watch HD for a rally tomorrow based on 123 S move with moving average support. Think there are a lot of shorts here.
And this is why I have to anticipate a bounce tomorrow. Dangerous candle at dangerous support levels. Although on closer inspection I could be ok.
Got gold wrong a few times today, the only solid entry today was a 123 S move at 922 resistance - the rest was untradable.
Pretty comprehensive summary of my trading day.
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