read my previous post to see that I only check my positions twice a day. A day like the fed day, I might check more. Sometimes when I am not busy and in the mood, I might do some day trading, sometimes a lot, like dozens or hundreds contracts in and outs. But since I am getting older, the less and less likely I do this.
Alright, so much for the Fed announcement, now it is time to re-evaluate the market and set up some more directional trades. Gold still in the range, not much change in strategy. bottom of the range buy another contract; top of the range get rid of it. While having a long bias thus holding a long position for bigger profit. As reflected by the GC orders in the following screen shot. In the same screen shot, as you can see I added a hedge long for the other short CL position in another account. It is there not giving clear direction. Consolidation above the 71 level for some more days could point higher. Let it burst out some steam before adding the second short in the other account, while profit this hedge, now setting at 74.08.
For the stock indices, a big drop tomorrow morning is possible, thus the 2895 buy is still possible. It is a good test of the old days' range. For RTY, it is classic retest of Chen's zone on the daily chart, thus give another buy here at 1680. The previous positon at 1707.7, just a few points missing my target set at the long entrance. It is what it is, c'est la vie. Got to live with it. As for NQ, I got my short in, not very accurate, missing the high by about 32 points, but for NQ, it is a room you have to give, it is a wilder beast comparing to ES. so far sticking to the original exit of 7536, will adjust higher if needed. It is hedged in the same account by my RTY and ES longs. Now comes to ES, it is at a sweet point, my 2917 long was finally in; but if I were there watching the screen, I could have made it in around 2907-2908 range. I was busy thus did not watch the action after FED. Still stick to my original exit, but ready to add more positions. YM never got in, if tomorrow morning it is another big drop first (very possible), it could get set up at my original 26248, sticking to it. it is only about 150 point from now, the moment of writing. happy trading all. I sense a few more down days, better fast and furious, and another stretching climbing up the worry wall. This is the way to shake out the weak and reward the planned hands. I will state in the forum here when I add heavier hand on the long side, which is the bigger trend for this market. Keep tuned. And as always, happy trading friends.