Quick view of cash indices. No prediction, but it does look a bit tired, ya?
Dow
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S&P 500 Index
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It was another choppy day. I was looking at 5-min charts of YM and NQ for possible scalp opportunity (Since? I did not see any interesting opportunity in 15-min chart). Trying same setup in different time frame. Here is a trade that got away.
YM
Entry below the low of 19th narrow range candle. It was right below resistance of 20-EMA. Momentum is still negative and I saw downtrend was established. Target will be Fib retracement from? today’s high to yesterday’s low.
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There were a couple of got away trade like this in NQ and ER. I am meeting my pal for gym workout now, gotta run. More charts later. Thanks Vincent for sharing and explaining his setup to me.
by Gav 2 Comments
After watching the market until lunch time, I decided to call it day. Nothing interesting. We have Non Farm payroll (employment situation) report tomorrow.
What a boring day.
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I am still preparing photos of my Malaysia trip. Here are the preview. My mum’s latest pet. His name is ??(millionaire). Trust me, he is a good fighter.
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I found this post by James (a.k.a Soultrader) in Traders laboratory. Very interesting. He uses market profile to review the market and prepare his trading plan for the coming days.
Check it out.
Dear diary,
Now, I can only start trading after 1030pm Singapore time due to the daylight savings thingy. Well, no big deal. But, the stupid flu virus is trying very hard to hit me. I am popping in Multivitamin before start trading.
First, No dummy. I did not see any low risk dummy entry today though NQ were having a down day.
Secondly, I don’t have a plan to trade when market gap up and subsequently moving down. I decided to give it a miss before I have a concrete plan for this type of condition. I have been watching squeeze play (bollinger band breaks out from keltner channel)? for the past few days, I do not start trading this strategy as I can’t figure out the exit point. From my experience of dummy trading, my trading result will suffer when I do not have a target.
Well, let’s trade better tomorrow.
Well, I have reinstalled Tradestation, and it looks fine now. I hope it won’t failed me again tomorrow. I gotta get back to trade. Maybe I am not very satisfied with my living and working environment in Singapore. I have never had such a strong desire of moving back to my home, Malaysia. I don’t know why. Anyway, I don’t think this will happen shortly. Face the reality, it is still not the time for me to move back. [Read more…] about Feeling of going home
