My computer went haywire today so I did not get to trade. I will point some of the trades that I saw during the day. This brings me to a very important point. If you are not 100% either physically or mentally, DO NOT TRADE! I was distracted by the fact that my charts were way behind and decided to trade SIM vs my real account. Very frustrating but better than losing money. I finally got every thing working after my trade cutoff time so should be back up and running tomorrow. Also, remember that Friday is the 4th of July in the United States and the US markets will be closed. The market may be a bit more difficult to trade for the next couple of days. Be careful. Now on to the update.
The Russell 2000 gaped down today and stopped at the 161% fib area as measured from the TS pivot at 15:00 CST up to the TS pivot at 12:24 pm CST. There were 3 IVB (inside vertical bar) that happened. The one that triggered was at 8:48 am CST with a long entry of 682.80. There was a report at 9 am CST. At the time of the report, the trade was up 1 point. The stop was moved to break even. The report was favorable and the trade made the objective. Moving the trade to break even allowed the report to come out. If the report was bad, the trade would have stopped out around break even. If the report was good (as in this case), the trade was allowed to make the objective. There was a double IVB at Woodies Pivot. Short entry was at 9:09 am CST with a short entry of 686.10. Here is the chart for trades 1 and 2.
Trade 1 and 2
Click on chart to enlarge.
The next trade was a trader’s trick set-up below the 56 EMA after a trend line break. The short entry was at 10:51 am CST with a short entry of 682.70. The entry was very far away from the 56 EMA making this entry more risky. Here is the chart for trade 3.
Trade 3
Click on chart to enlarge.
The market came down and bounce off S1 to the tick. There was no entry at that time. The market went into a sideways base for the next 1 and a half hours before forming an outside vertical bar at a double bottom. The time was at 12:45 am CST with a long entry of 678.20. The next trade was a traders’s trick set up after a trend line break. The time was at 13:18 am CST with a long entry of 685.00. Here is the chart for the last two trades of the day.
Trades 4 and 5
Click on chart to enlarge.
Since I had computer problems, I am not going to quote any stats tonight. Tomorrow will be a better day for that.
Best regards,
Ron
This is not a solicitation to buy or sell.
There is a risk in any investment
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