I am looking at Short position of Mini Dow at 11,112. A established downtrend is shown in 10-min chart.
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Paper Trade Series: Mini Dow 21-June-2006
It is a excited opening for U.S market. From 1 min chart of Mini Dow,there was a good setup for Long position. Mini Dow futures was trading above 10, 15, and 30 period moving averages and closed above CBL entry level. RSI supported the entry decision by making higher lows. Entry was at 11075 with exit at trailing stop 11114.
Paper Trade Series: Mini Dow
Finally , i got my new charting service up and running. I have been watching Mini Dow for opportunity. I have decided to perform paper trading for few days in order to get use of this new chart service.
First entry is when Mini Dow broke recent downtrend and RSI making is positive divergence. Entry was triggered at 11022 and exit was set at 11041 which is previous high. Target hit. Gain +19 ticks.
Second entry was set at 11054 when higher low in RSI is formed and Mini Dow broke count back entry . Signs of strength. Exit was set at 11090, previous high, resistance area. Target hit. Gain +36 ticks.
Bigger profit was missed, however, the objective is to capture the strong move and exit at the known resistance level to protect profit.
Charting Headache Continues: No trade today
It is going to take sometime for my new chart service to be activated. Maybe it is time for me to take break after some winning trades for the past 2 weeks. I can't risk by doing day trading with delayed chart.
I 'll be back when the chart is available to me again.
Be a better trader today.
Charting headache: No trade today
Chart Eye: SIMSCI Futures : ended 16-June-2006
This is daily chart of SIMSCI futures. It broke out from existing downtrend channel last Friday after a strong day. It is currently facing resistance soon.
Directional index has started ticking up after reaching oversold level. And trend index shows a same picture as well. Sentiment is improving though it is still remain negative.
It is likely to see rebound rally, though downtrend is still intact.