Pete's Place

ouch ouch ouch -4.5

 

ready for a long if it back up to 36 or so

 

Here's the 11 min on that last trade.
A couple of things wrong with it.
One, not a good idea to risk 5 points to make 5 points.
Two, could have waited for a red candle in afternoon type stuff.

 

done for the day. Somewhat dissapointing results but at least there's a rational reason. None of my scenarios panned out.

 

long from 49.5. 2nd failure, higher a/d

 

tgt 1 59.5
tgt 2 hold for breakout of 60
if it trades above 60 for more than 15 mins, and comes back down, exit at tgt 1

 

holding stop at 48.5

 

will also close one up if I get a short signal

 

I stopped it out at 48.5

result: -1

In retro, shooting star with 2 pt shadow on 2 min chart is a short signal

 

a durned sweet short signal it turned out to be, too.
Rookie mistake.