There is a potential short here at 1285 (overbought on 15, near resistance, lower low, lower high on 5 min), but only 5 minutes left to the close, so that's it for the day.
bought at 1282.25 target 84.25 risk 1.25pts. reason: 1- Oversold on 15 min stoch 2- divergence on CCI 5 mins 3- green candle (higher high higher low) 4- near support. Stopped out at 1281. loss 1.25 pts ( It was not as near to support as I would like it. I might go back in). Total: 3.25 pts loss Number trades: 7 trades.
This seems to be a falling knife so far. Better stay away. The 1278.75 support is to be broken. For me to get on the long side I need a double bottom or a clear CCI divergence with a green candle closing just above support as well as an overbought on 15min PS: It is always good to take losses as small as possible. What a relief!!!! I'll be looking right now for short opportunities.
This is very likely to be a trending day. The price on 5 mns closed for two or three consecutive bars outside the keltner channels. I'll look to short at resistance. There is a fairly good resistance at the pivot point around 1276.5. Another resistance is at 1278.25-78.75.
I tried to short at 1276.25, It never came to me. I did not want to chase the price, so I watched it tank, Grrrrrrrr! I'm trying to short at 1275.5, if it gets there, for 3 pts target and 3 pts risk.
stopped out at 1276.5. Worse I kept my short at 1275.5 for 3 pts target and 3 pts stop. I knew that there is always a counter trend mid-day. All I had to do is wait, but... Let's pray that the short at 1275.5 is going to work. Total: 6.25 pts loss Number trades: 8 trades. Largest Loss: 3 pts Largest Win: 2 pts
closed the trade at 1273.5. Which doesn't make sense but I started the day very badly, I needed to have a winner. I have to go to work this afternoon, so that's it for today. A little bit of patience would have resulted in a positive day. Now three negative days in a row, that's something difficult to accept, but still the losses aren't huge. Hope tomorrow will be a positive day. Total: 4.25 pts loss Number trades: 9 trades. Largest Loss: 3 pts Largest Win: 2 pts
9 trades is about $45 using the round turn that you quoted the other day. Almost 1 pt loss there to be added in. I think it is important that you show that as well
That's true. That's why I count the number of trades. Right now I just trade one contract, well as long as the method is not successful. You can say I'm down exactly: $255.7 Today screwed my mental big time. I had the picture of the day in my hands but I executed very poorly. Sometimes one single trade can ruin all your day. That was the short at 1273.5, until now I can't explain it. discipline, discipline, discipline.