[INTRA-DAY ACTION]
Why does my network always fail on important trading days?
Choppy opening here today, was looking for some trades in POT, XLE and RVBD but the opening and lack of connection stopped it. Charts and updates to follow as I look for trades.
Update evening time..
Hard day to trade today, I was bearish all day and didn't trust the rally. I had 2 trades today, both micro losers and if I'm honest I shouldn't have taken them in the first place.
COG Entry and exit.
I was bearish on this triple top and saw weakness in the oil and gas plays. These were really extended all day. I took a small hit after tightening my stop as it started to show good strength towards the ceiling price. It was a great exit as it went on to trade 50 cents higher. Learned a lot about how to trade these openings with this trade so I feel my risk was justified by adding to my repetoire of skills.
RIG entry exit
As I said I was bearish all day but nothing would pull back today. This was a straight forward setup that has worked recently, however my luck was out today and I took a small hit here too. Another well place stopped as RIG went on to do this;
I missed two great longs while waiting for a better price. The cost of being fickle can be high as I would not have been exposed to the RIG trade had I taken either of these.
SSO setup
Wanted a better price, the only problem. Should have scaled in - lesson learned.
RVBD setup
Had the alert here at the gap close to take a long. Easy setup but as I mentioned at the start of the post, my internet screwed me over again.
Elsewhere POT went parabolic after diving back into it's old consolidation range. GS did most of the same thrashing up on huge volume into close.
Looking to go long SSO tomorrow around $20.45. Will also watch ERY and DUG tomorrow. I much prefer futures to ETFs, although I need to give it a greater sample size before I make my mind up. Hard trading today as it's hard to stay bullish when you're so extended!
Choppy opening here today, was looking for some trades in POT, XLE and RVBD but the opening and lack of connection stopped it. Charts and updates to follow as I look for trades.
Update evening time..
Hard day to trade today, I was bearish all day and didn't trust the rally. I had 2 trades today, both micro losers and if I'm honest I shouldn't have taken them in the first place.
COG Entry and exit.
I was bearish on this triple top and saw weakness in the oil and gas plays. These were really extended all day. I took a small hit after tightening my stop as it started to show good strength towards the ceiling price. It was a great exit as it went on to trade 50 cents higher. Learned a lot about how to trade these openings with this trade so I feel my risk was justified by adding to my repetoire of skills.RIG entry exit
As I said I was bearish all day but nothing would pull back today. This was a straight forward setup that has worked recently, however my luck was out today and I took a small hit here too. Another well place stopped as RIG went on to do this;
I missed two great longs while waiting for a better price. The cost of being fickle can be high as I would not have been exposed to the RIG trade had I taken either of these.SSO setup
Wanted a better price, the only problem. Should have scaled in - lesson learned.
RVBD setup
Had the alert here at the gap close to take a long. Easy setup but as I mentioned at the start of the post, my internet screwed me over again.
Elsewhere POT went parabolic after diving back into it's old consolidation range. GS did most of the same thrashing up on huge volume into close.
Looking to go long SSO tomorrow around $20.45. Will also watch ERY and DUG tomorrow. I much prefer futures to ETFs, although I need to give it a greater sample size before I make my mind up. Hard trading today as it's hard to stay bullish when you're so extended!
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