Sorry, I have been a little busy these 2 days. No trade yesterday. Today I only traded the last 2 hours. 11:00pst, price looked like form a triangle pattern, Move has happened at the first 2 hours. Todayâs action looked like yesterdays. Market consolidated half of the time. On 15 min chart market is trading in a range from Monday. I went in long for a quick scalp trade. Set up my target at the resistant level- todayâs high-10650. But I got stopped out twice and gave up. Then market reached my target without taking me with it⦠Todayâs PnL: -$21, 2 trades,50% winrate
Good luck finding him and send us pictures! I am sure he is super hot and smart! Too bad, I am heading to HK and SH next week... I won't party without you, hehe
Thank you Matcha. I hope I can keep up with my discipline to follow my trading rules.... You will have a great time there. I have never been to mainland China before, heard lots of great things about it, would like to go there someday. Have been to HK many times, absolutely love it. Beautiful place, stunning harbor view, great great great shopping and eating, just like Jackie Chan said, "See it, Live it, Love it"... --po
A consolidation boring day. ââMarketâs constipation dayâ. Almost fell asleep at my desk. Couldnât find setup on morning session, so no position. At 10:15. looks like market is reversing to the up side. On 15 min chart price is trading in a range. Price was bouncing to the up side from the range low 10577. I entered a pullback trade at 11:00. But it turned out market consolidating here for about 45min, it did not go up. I lost 4 bullets here to bet a 2nd push up. I had my target to yesterdayâs high 10660 Finally, 12:10 market broke the narrow consolidation range, formed a green large body bar. I entered at the middle of the bar. But I was once again whipsawed by follow up narrow range long tail doji bar⦠Market stalled at the PP level and formed a double top pattern with a large red candle. I entered a short. Stopped out. Not too much fun today⦠Maybe everyone is waiting for tomorrowâs monthly jobless claim report? All my stops are pretty tight today. Todayâs PnL: -$96, 7 trades, 14% winrate
Don't know what to say. The broad market has been bouncing in a fairly tight range for the past few days. What I said: many people are on vacation. I expect that the slowness will last until mid/late August. Unless there is some big news development that will steer the market.
Thank you! I love Hong Kong. I bet you would like Shanghai if you like HongKong so much! This trip I will have to be very frugal. Only window shopping... I would spend more time at the coffee shop reading trading material. And I will trade at the openings. It will be nighttime in Hong Kong. I won't be able to trade when I am in Shanghai.
I finally learned my lesson a while back about days like this and scalped small profits instead of trying to catch anything of significance. CL was the choppiest/whippiest thing I've seen. My two best trades of the day pretty much transpired in a single 5-min candle before price whipped the other way!